Godrej Properties Sells Over 2,000 Homes Worth ₹3,150 Crore in Bengaluru

Real estate giant Godrej Properties announced the sale of over 2,000 homes worth ₹3,150 crore at the launch of its Godrej Woodscapes project in Bengaluru. This milestone marks a significant achievement for the company, as it reported over 500% quarter-on-quarter growth in sales in Bengaluru, surpassing its full-year FY24 sales in South India within the first quarter.

This is the second launch by Godrej Properties to achieve over ₹2,000 crore in sales in Q1 FY25 and the sixth launch in the past four quarters to exceed this sales figure. “This is Godrej Properties’ most successful launch ever in terms of the value and volume of sales achieved and is the second launch with ₹3,000 crore in sales in the past three months,” the company stated.

Godrej Properties has a robust launch pipeline for FY25, with several new project launches planned in Bengaluru. The strategic market entry into Hyderabad is also expected to bolster the company’s presence in South India. “We are delighted with the response to our project, Godrej Woodscapes. South India is an extremely important region for Godrej Properties, and we aim to further strengthen our presence in the coming years,” said Gaurav Pandey, MD & CEO of Godrej Properties.

In Q1 FY25, the company also sold inventory worth over ₹2,000 crore in Noida. In FY24, Godrej Properties reported impressive sales, including ₹3,008 crore in Gurgaon in Q4, ₹2,693 crore in Kandivali in Q4, ₹2,667 crore in Gurgaon in Q3, and ₹2,016 crore in Noida in Q2.

This announcement follows Godrej Properties' acquisition of seven acres of land in Thanisandra, North Bengaluru, with an estimated revenue potential of ₹1,200 crore.

The company’s stock has surged over 65% this year, significantly outperforming the benchmark Nifty 50 index, which has risen by 10%.

HBL