During the quarter, the company’s sales volume jumped 56% YoY to 8.17 million square foot. Sales in Mumbai Metropolitan Region (MMR) was more than Rs 4,000 crore in Q4 FY24.

Sales were driven by superlative consumer demand in some key new project launches. Godrej Zenith in NCR achieved a booking value of more than Rs 3,000 crore and Godrej Reserve in MMR achieved a booking value of Rs 2,690 crore. Both of these projects were the best ever launches for the company in the respective markets.

In FY24, 4 projects (including Godrej Aristocrat launched in Q3 and Godrej Tropical Isle launched in Q2) achieved over Rs 2,000 crore booking value. The company’s bookings in NCR in FY24 surged 180% to over Rs 10,000 crore and bookings in MMR zoomed 114% to over Rs 6,500 crore.

The booking value grew by 84% to more than Rs 22,500 crore and the company achieved 161% of its booking value guidance for FY24 with volume growth of 31% during the year to 20 millions square foot and an improved project mix.

Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are delighted with the scale up we have achieved in the past two years. The sales booking of over Rs 9,500 crore in Q4FY24 surpasses our annual bookings in FY22. We achieved a growth of 84% in FY24 to register bookings of over INR 22,500 crore. We are pleased that this sales growth was on the back of both an improving project mix as well as strong volume growth of 31%. We’d like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties.

We continue to have a strong launch pipeline for the current year, which will also be bolstered by our recent entry into the important Hyderabad market. We have built a deep understanding across the key real estate markets in India and are greatly excited by the potential the next several years offer for us to deliver sustained high-quality performance across all key operating metrics.”

Godrej Properties is the real estate arm of the Godrej Group. It is subsidiary of Godrej Industries, which holds 58.48% of the company's equity shares as on 31 December 2023. The company currently operates in various cities and focuses on residential, commercial, and township development.

The real estate developer’s consolidated net profit increased 6% to Rs 62.27 crore in Q3 FY24 from Rs 58.74 crore posted in Q3 FY23. Revenue from operations jumped 68.39% YoY to Rs 330.44 crore in Q3 FY24.