Godrej Properties clocks Rs 1,210 crore sale bookings in two new Mumbai projects

Godrej Properties on Friday said it has achieved sales bookings worth Rs 1,210 crore in its two new housing projects in Mumbai.

Godrej Properties, a part of business conglomerate Godrej Group, is one of the leading real estate developers in the country.

In a regulatory filing, the company said it launched two new projects, Godrej Ascend located at Kolshet Road, Thane and Godrej Horizon located at Dadar, Wadala, during first quarter of this fiscal year.

The company has cumulatively sold more than 700 homes accounting for an area of over 8.08 lakh square feet for both projects.

Mohit Malhotra, MD & CEO, Godrej Properties, said, " Mumbai has always been a key market for us and the customer's confidence is a reflection of the increasing demand for sustainable and integrated developments by reputed developers."

Godrej Properties clocked sales bookings of Rs 7,861 crore in 2021-22 and it has set a target of Rs 10,000 crore for current fiscal year.

Already, its sales bookings jumped five-fold to Rs 2,520 crore during April-June 2022 - the highest ever first quarterly sales.

It is targeting to launch about 20 residential projects, including new ones and new phases in ongoing projects, during this financial year.

It expects to deliver 10 million square feet area during 2022-23 as against 6.5 million square feet in 2021-22.

In February, Godrej Properties had announced that it would invest Rs 7,500 crore over next 12-18 months on land acquisition and development of new projects.

Godrej Properties has successfully delivered around 22 million square feet of real estate in past five years. It has more than 190 million square feet of developable area across India.

The company focuses on four key markets - Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru and Pune.

Besides these cities, the company has presence in Chennai, Kolkata, Kochi, Ahmedabad and Chandigarh and Nagpur.