Godrej Properties Limited’s stock climbed 8% after it announced its highest-ever quarterly and annual sales in the financial year 2024. The company sold over 5,000 homes worth Rs 9,500 crore in the fourth quarter of FY24, the highest sales ever recorded by any publicly listed real estate developer in India.

The annual sales grew by 84% YoY to over Rs 22,500 crore in FY24, the highest yearly sales announced by any publicly listed real estate developer in India. The sales were by selling 14,310 homes with a total area of 20 million square feet. High customer demand in some key new projects, were the key factors that drove sales.

Furthermore, Godrej Zenith in the National Capital Region (NCR) and Godrej Reserve in the Mumbai Metropolitan Region (MMR) achieved a booking value of over Rs 2,000 crore, while, for four projects (including Godrej Aristocrat and Godrej Tropical Isle), GPL’s bookings in NCR in FY24 grew 180% to over Rs 10,000 crore, and in MMR, bookings grew 114% to over Rs 6,500 crore, in FY24.

Earlier, on April 8, the company announced that it had sold more than 1,050 homes worth around INR 3,000 crores. It’s the largest residential project, Godrej Zenith, in Sector 89, Gurugram.
The company has achieved a 473% YoY increase in sales in Gurugram in FY24 and has a robust launch pipeline for FY25, including new project launches planned in Sector 103, Sector 43, and Sector 54. Moreover, these upcoming launches will significantly strengthen GPL’s presence in the city.

Godrej Properties is a real estate developer in India, and Godrej Properties’ developments combine a 127-year legacy of trust and excellence with a commitment to innovative design, technology, and sustainability.

At 3:30 pm, the shares of Godrej Properties Ltd. closed 4.52% higher at Rs 2,705.70 on NSE.