New Delhi: Real estate company M3M India announced a 37 pc rise in sales of residential and commercial properties in the June quarter to Rs 3,911 crore due to high demand. The sales bookings were at Rs 2,854 crore during the same period last year.
According to a statement from the company, sales bookings for the housing segment accounted for Rs 2,972 crore and commercial properties accounted for Rs 940 crore out of total sales in April-June period of the current fiscal. In the initial quarter of this financial year, M3M India reported sales bookings of Rs 2,415 crore in Gurugram, with Noida projects adding Rs 402 crore. Revenue from the sale of residential land in Panipat, Haryana, totaled Rs 1,094 crore.
According to Sudeep Bhatt, President of M3M India, the company has shown strong growth in their Q1 2024-25 results, highlighting their dedication to providing top-notch real estate solutions. Bhatt stated that they were confident in maintaining momentum and creating value for stakeholders with a robust lineup of ultra-luxury projects set to launch in FY25.
M3M India has a total of 56 projects covering various sectors such as retail, residential, offices, service apartments, and more. The company reported that all projects initiated before 2019 have been completed, with construction progressing vigorously on the remaining projects. It possesses a land reserve of 3,000 acres spread across Gurugram, Noida, and Panipat. Housing sales in Delhi NCR increased by 10 percent in the April-June quarter this year, reaching 11,065 units from 10,058 units in the previous quarter, as reported by housing brokerage firm PropTiger.
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