Godrej targets 10k cr property sales| Roadsleeper.com

Godrej targets 10k cr property sales| Roadsleeper.com

BENGALURU Godrej Properties Ltd (GPL) news for every day 259 crore for the quarter ended March, compared to a loss of 192 crore in the previous year.

Total amount of Rs 1522.57 crore in the March quarter, from 576.08 crore in the year-ago quarter, according to a statutory filing.

The Mumbai-based real estate company said that on the service front, its bookings rose 17% year-on-year. 7,861 crore in 2021-22, which 7,781 crore from its housing projects. It sold 9,121 properties with a total area of ​​10.8 million sq ft last year. The period January-March is the best ten months for its sale 3248 crore of booking value.

“We want to start working on our topline effectively and want to do it 10,000 crore of market bookings in 2022-23. In terms of business development, we want to increase the number of jobs we get in the industry this year,” Pirojsha Godrej, CEO, Godrej Properties, said in an interview.

The housing market recovery may have helped large developers like GPL, but many mid-sized and smaller developers are still facing financial and operational problems.

Godrej said acquisition opportunities are plentiful in the current market environment, and the new deal pipeline is strong.

The developer, which usually focuses on Mumbai Metropolitan Region (MMR), Pune, Bengaluru and Delhi-National Capital Region (NCR) as its core markets, is also exploring strategic plans beyond these regions. It is developing a strategic plan in Nagpur and is open to doing more in smaller cities.

He added, “While group homes continue to be a major part of our business, we are hopeful that we will continue to sell the planned business because they benefits economically and has less time for killing,”

In 2022-23, GPL aims to launch 11 projects across the country, covering 10.30 million sq ft.

In FY22, the company added six new residential projects with 9.33 million sq ft of salable area.

“The real estate sector is strengthening during FY22 and we expect strong growth for the sector over the next few years. We are happy to close the financial year with sales, fundraising and investment we have achieved every year. With a strong launch pipeline, a strong balance sheet and a strong headwind, we expect to start at this pace in FY23,” said Godrej.

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