Godrej Properties Q2 Sales Up 3% to Rs 5,200 cr

New Delhi, Oct 4 (PTI) Realty firm Godrej Properties Ltd's sale bookings rose 3 per cent to nearly Rs 5,200 crore in the second quarter of this fiscal on better housing demand.

This is the highest ever Q2 (July-September) booking value achieved by Godrej Properties, the company said in a regulatory filing.

"Q2, FY25 booking value grew 3 per cent YoY (year-on-year) to nearly Rs 5,200 crore from sale of over 5.1 million sq ft," it said.

The company's sales booking value grew 89 per cent YoY to over Rs 13,800 crore.

This was achieved through the sale of more than 8,600 homes with a total area of over 14 million square feet.

This is the highest-ever booking value achieved by Godrej Properties during the first half of a fiscal year.

"We are delighted with the scale up we have achieved in the past couple of years," Gaurav Pandey, Managing Director and Chief Executive Officer of Godrej Properties, said.

The sale bookings of over Rs 13,800 crore in H1 of FY25 surpasses its annual bookings in FY23, he added.

"...this sales growth was on the back of both an improving project mix as well as strong volume growth of 89 per cent. Importantly, our robust sales performance has translated into record collections growth of 62 per cent to over Rs 7,000 crore and operational cash flow growth of over 200 per cent to over Rs 2,800 crore in H1FY25," Pandey said.

Godrej Properties is one of the leading real estate developers in the country, with a strong presence in Delhi-NCR, Mumbai Metropolitan Region, Pune and Bengaluru.

The company became the largest listed real estate firm in terms of sale bookings during the 2023-24 fiscal.