Two Mumbai- based leading developers – Godrej Properties and Tata Housing have shared the spotlight by clocking a five-fold increase in their sales bookings.
Godrej Properties Limited (GPL) has done a record sales bookings of Rs 2520 crore in the first quarter of FY23, registering a five-fold jump from Rs 497 crore in the April-June quarter of FY 22.
Along with high sales bookings, GPL, has achieved three times increase in its profits to Rs 45.55 crore in the June quarter, up from Rs 17.03 crore in the June quarter a year ago. During this period, the total income of the company rose to Rs 426.40 crore, up from Rs 261.99 crore.
GPL, which launched three projects in the April-June quarter, is looking to launch a strong pipeline of new projects , together with new phases of existing projects pan India across major cities this year. The Mumbai-based developer which delivered about 6.5 million sq ft of projects in FY22 , plans to deliver over 10 million sq ft in FY 23. The company is also on track to meet its FY 23 objective of achieving Rs 10000 crore of booking value.
Tata Housing’s sales bookings surged five fold to Rs 623 crore in April-June quarter of FY 23., on account of strong demand across its residential projects. Sanjay Dutt, Managing Director and CEO of Tata Realty and Infrastructure expects triple-digit growth in FY 22-23.
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