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India Housing Booms: Pirojsha Godrej Confident
8 Feb
Summary
- Housing market shows steady growth in sales and pricing.
- Godrej Properties targets ₹32,500 crore in sales bookings.
- Company surpasses land acquisition goals for future projects.
India's real estate market is maintaining a robust performance, characterized by steady growth in both sales volume and property prices, as stated by Pirojsha Godrej, Executive Chairperson of Godrej Properties. He noted that the market has stabilized into a more consistent growth phase following a period of rapid expansion post-COVID-19.
Godrej Properties is on track to meet its ambitious sales booking target of ₹32,500 crore for the 2025-26 fiscal year. As of the first nine months of the fiscal year, the company reported a 25% increase in sales bookings, reaching ₹24,008 crore. The company is also performing well in other key metrics, including customer fund collections and project deliveries.
In terms of land acquisition, Godrej Properties has surpassed its annual guidance by acquiring 12 land parcels. These acquisitions represent an estimated saleable area of 22.36 million square feet, with an expected booking value of ₹24,650 crore, exceeding the target of ₹20,000 crore.
