New Delhi: Indian's top real estate companies, Godrej Properties and Macrotech Developers, have announced strong sales of more than Rs 22,000 crore between April and September 2024, showing a 56 pc yearly increase due to high demand for luxury residences. Godrej Properties achieved sales bookings of over Rs 13,800 crore, showing an 89 pc growth from Rs 7,288 crore in the previous year. In the meantime, Macrotech Developers, doing business as 'Lodha', recorded Rs 8,320 crore in bookings, marking a 21 pc increase from Rs 6,890 crore.
The total revenue of the two Mumbai companies increased to Rs 22,120 crore this year, compared to Rs 14,178 crore last year. Godrej Properties has achieved its best ever first-half performance and is targeting total sales of Rs 27,500 crore for the entire fiscal year. Macrotech Developers aims for Rs 17,500 crore. The real estate market has flourished after the pandemic, boosted by pent-up demand and a growing inclination towards owning a home, especially in upscale areas. In spite of increasing costs, consumers continue to show strong interest, particularly in well-established builders with successful histories.
MD and CEO of Godrej Properties, Gaurav Pandey, expressed contentment with the notable progress made, crediting it to a better project variety and substantial volume boosts. Both companies expect strong momentum in the upcoming holiday season, with predictions for successful product launches and high sales. With the Indian economy improving, almost every real estate company that is listed is experiencing an increase in sales, showing a strong rebound in the housing industry.
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