Godrej Properties aims to sell record Rs 14,000 cr worth of properties

Godrej Properties expects 14 per cent growth in sale bookings this fiscal to a record Rs 14,000 crore on strong housing demand, a top company official said.

Godrej Properties expects 14 per cent growth in sale bookings this fiscal to a record Rs 14,000 crore on strong housing demand, a top company official said.

In an interview with PTI, Godrej Executive Chairman Pirojsha Godrej highlighted that the company's performance in 2022-23 was very strong on all important metrics like sale bookings, cash collections from customers, completion of projects and addition of new land parcels for future developments.

He said the sale bookings rose 56 per cent last fiscal to an all-time high of Rs 12,232 crore and almost all were housing properties.

Cash collections grew 41 per cent to Rs 8,991 crore last fiscal year, while project deliveries touched a record 10 million square feet, he said.

Asked about the targets for current year 2023-24, Pirojsha said: "We have set a target of Rs 14,000 crore worth of sale bookings for now. We will hopefully do better than our annual sales guidance."

The cash collection target has been set at Rs 10,000 crore for current fiscal, while the deliveries of projects would rise to 12.5 million square feet, he said.

Pirojsha said prices in the company's housing projects rose by an average 10 per cent last fiscal and it is expected to appreciate further.