Godrej Properties' stock soars nearly 8% to reach highest price in a year

Godrej Properties shares surged 8% following a record increase in sales bookings to Rs 22,500 crore in the last financial year. The stock reached a one-year high on both BSE and NSE. The company surpassed Prestige Group in sales bookings. Godrej Properties achieved its best quarterly and annual sales.

Shares of Godrej Properties on Tuesday jumped nearly 8 per cent after the company reported a 84 per cent increase in sales bookings to a record Rs 22,500 crore in the last financial year.

The stock zoomed 7.85 per cent to reach its one-year high of Rs 2,791.20 on the BSE.

On the NSE, it climbed 7.84 per cent to hit the one-year peak of Rs 2,791.80.

Realty firm Godrej Properties on Tuesday reported a 84 per cent increase in sales bookings to a record Rs 22,500 crore in the last financial year, on higher volumes amid strong consumer demand for residential properties.

Godrej Properties has surpassed the sales booking numbers of Bengaluru-based Prestige Group, which on Monday reported pre-sales of Rs 21,040 crore during the last fiscal year.

In a regulatory filing, Godrej Properties said the company has achieved its best-ever quarterly and annual sales in the fourth quarter of the last fiscal and for the full 2023-24, respectively.

During the fourth quarter of the last fiscal, Godrej Properties' sales bookings more than doubled to over Rs 9,500 crore year-on-year.

Its sales bookings during the last fiscal grew by 84 per cent year-on-year to more than Rs 22,500 crore.

''This is the highest-ever annual sales announced to date by any publicly listed real estate developer in India. This was achieved through the sale of 14,310 homes with a total area of 20 million square feet,'' the company said.

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