Godrej Properties Tops Rs 22,527 Crore in Real Estate Sales for 2023-24 Fiscal

Eighteen major real estate developers reported sales of Rs 1.17 lakh crore in the 2023-24 fiscal, driven by strong demand for residential properties. Godrej Properties emerged as the top seller with Rs 22,527 crore in sales bookings. Industry experts attribute this growth to strong brand recognition and advanced management practices.

PTI | New Delhi | Updated: 02-06-2024 17:22 IST | Created: 02-06-2024 17:22 IST
Godrej Properties Tops Rs 22,527 Crore in Real Estate Sales for 2023-24 Fiscal
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Eighteen major listed real estate developers have recorded a collective sales figure of Rs 1.17 lakh crore for the 2023-24 fiscal year, with Godrej Properties leading the pack by posting sales bookings worth Rs 22,527 crore.

Most major developers have surpassed their previous year's sales, bolstered by high consumer demand for residential properties, particularly luxury homes. Many developers reported record pre-sales during this period, driven by a surge in consumer interest.

According to regulatory filings, the combined sales bookings of these eighteen firms reached approximately Rs 1,16,635 crore, marking a 33% increase from around Rs 88,000 crore in the previous year. The residential segment largely contributed to this growth.

Commenting on this robust performance, Dhruv Agarwal, CEO of Housing.com and PropTiger, noted, "Listed real estate firms in India have excelled due to strong brand recognition, diversified portfolios, and superior access to capital." Advanced technologies for marketing, sales, and customer service have also boosted their market position.

Among the other top performers, Prestige Estates Projects and DLF achieved impressive sales, while firms like Signature Global, Sobha Ltd, and Puravankara Ltd also posted significant numbers.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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