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Realty Giants Eye Rs 1 Lakh Crore Revenue
22 Mar
Summary
- Two major developers acquired over 25 land parcels.
- Projects are projected to yield over Rs 1 lakh crore.
- Demand for homes from branded developers is rising.
Godrej Properties and Lodha Developers are demonstrating significant optimism regarding India's housing sector. These two prominent real estate firms have collectively secured over 25 land parcels during the current fiscal year, anticipating a combined revenue stream surpassing Rs 1 lakh crore from the subsequent residential developments.
Lodha Developers has strategically acquired 11 land parcels across the Mumbai Metropolitan Region, Delhi-NCR, Pune, and Bengaluru. These acquisitions are expected to contribute an estimated saleable area of 20.6 million sq ft, with projected sales value reaching Rs 58,800 crore.
Simultaneously, Godrej Properties has been actively expanding its land bank, acquiring nearly 20 parcels for residential projects valued at Rs 42,000 crore. This includes 12 parcels acquired in the first nine months of the fiscal year, covering 22.36 million sq ft with an expected booking value of Rs 24,650 crore, and an additional six parcels this quarter worth Rs 17,450 crore.
The post-Covid-19 period has witnessed robust housing sales, with a notable shift towards premium and ultra-luxury segments. Consumers are increasingly favoring large, branded developers who have a strong history of successful project delivery. Both Godrej Properties and Lodha Developers, headquartered in Mumbai, are leading this charge.
