Godrej Properties, Macrotech sell over Rs 22,000-crore properties in 6 months

India's 2 large realty firms Godrej Properties and Macrotech Developers person sold properties worthy implicit Rs 22,000 crore during April-September, up 56 per cent annually, connected beardown request for premium homes.

Godrej Properties sells its existent property projects nether the Godrej brand, portion Macrotech Developers markets its properties nether the 'Lodha' brand.

During the archetypal six months of the existent fiscal year, Godrej Properties sold properties worthy implicit Rs 13,800 crore, and Macrotech Developers' income bookings stood astatine Rs 8,320 crore. The bulk of these income were of lodging units.

The combined income bookings of some Mumbai-based realty firms stood astatine Rs 22,120 crore during April-September 2024 against Rs 14,178 crore income registered by the 2 companies successful the year-ago period.

According to the latest operational update, Godrej Properties' income booking worth grew 89 per cent year-on-year to implicit Rs 13,800 crore during April-September this twelvemonth compared to Rs 7,288 crore successful the year-ago period.

Macrotech Developers reported a 21 per cent yearly maturation successful its income bookings to Rs 8,320 crore successful the archetypal fractional of this fiscal from Rs 6,890 crore successful the year-ago period.

Godrej Properties has achieved the highest-ever H1 income booking value.

Both Godrej Properties and Macrotech Developers person expressed assurance successful achieving their income bookings targets for the 2024-25 fiscal year.

While Godrej Properties has acceptable a people of Rs 27,500 crore worthy of income bookings for the afloat fiscal, Macrotech Developers has fixed a income guidance of Rs 17,500 crore.

Godrej Properties became the largest listed existent property steadfast successful presumption of merchantability bookings during the 2023-24 fiscal.

In the past fiscal, Godrej Properties income bookings jumped 84 per cent to a grounds Rs 22,527 crore from Rs 12,232 crore successful the preceding year.

Macrotech Developers had registered a 20 per cent maturation successful income bookings to a grounds Rs 14,520 crore against Rs 12,060 crore a twelvemonth ago.

Having achieved 21 per cent yearly pre-sales maturation successful the archetypal fractional and with the festive play commencing, Macrotech Developers said the institution is connected people to conscionable its full-year guidance of 20 per cent pre-sales growth.

Godrej Properties MD and CEO Gaurav Pandey said, "We are delighted with the scale-up we person achieved successful the past mates of years. The income bookings of implicit Rs 13,800 crore successful H1 of FY25 surpasses our yearly bookings successful FY23".

Pandey said this income maturation was connected the backmost of an improving task premix and beardown measurement growth.

Godrej Properties is 1 of the starring existent property developers successful the country, with a beardown beingness successful Delhi-NCR, Mumbai Metropolitan Region, Pune and Bengaluru. It has entered the Hyderabad marketplace recently.

Macrotech Developers, erstwhile Lodha Developers, has a beingness successful Mumbai Metropolitan Region (MMR), Pune and Bengaluru.

The lodging marketplace has been performing exceedingly good post-COVID pandemic, driven by pent-up demand, rising appetite for location ownership and a maturation successful the Indian economy.

Strong request for residential properties, particularly luxury homes, has led to a crisp appreciation successful superior values.

Despite the emergence successful prices, the income momentum continues to beryllium robust.

Post-pandemic, user request has been shifting towards reputed builders with a amended way grounds of executing projects.

Almost each listed existent property players person been reporting beardown sales.

During the existent festive quarter, manufacture experts are expecting a flurry of launches and beardown sales.