Godrej Properties sells homes worth over ₹3,000 crore in Gurugram project launch
Upstox
2 min read • Updated: April 8, 2024, 6:34 PM
Summary
Godrej Properties sold over 1,050 homes with over 2 million square feet of area in the project, making this its most successful ever launch by both value and volume of sales
Mumbai-based realtor Godrej Properties today said it has sold over 1,050 homes worth over ₹3,000 crore in its project, Godrej Zenith, located in Sector 89, Gurugram. This is Godrej Properties' most successful launch ever in terms of the value and volume of sales achieved.
Godrej Zenith is GPL's largest residential development in Gurugram. The company has recorded a 473% year-on-year increase in sales in Gurugram in FY24 and has a strong launch pipeline for FY25 which includes new project launches planned in Sector 103, Sector 43, and Sector 54. These planned launches will significantly strengthen GPL’s presence in the city.
This is the second time in Gurugram, and the fourth time pan India, that Godrej Properties has recorded sales of over ₹2,000 crore during launch in FY24. Its other ₹2,000-crore plus launches from the last fiscal year include Godrej Reserve, located in Kandivali, Godrej Aristocrat, located in Sector 49 on Golf Course Extension Road, Gurugram, and Godrej Tropical Isle in Noida.
“We are delighted with the response to our project, Godrej Zenith. We will do our best to ensure Godrej Zenith offers its residents an outstanding living experience,” said Gaurav Pandey, MD & CEO, Godrej Properties. “Gurugram is an extremely important market for Godrej Properties, and we will look to further strengthen our presence in Gurugram in the years ahead."
In its press release, Godrej Properties noted that in FY2021, Godrej Properties had emerged as the largest developer in India by the value and volume of residential sales achieved.
The company added that sustainable development was a big focus area. “In 2010, GPL committed that all of its developments would be third-party certified green buildings. In 2020 and again in 2021 and 2022, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and governance practices. In 2017, GPL was one of the founding partners of the Sustainable Housing Leadership Consortium (SHLC), whose mission is to spread sustainable development practices across the Indian real estate sector,” the company said.
Godrej Properties shares have done well over the past one year, posting a 111% increase, only slightly behind the 122% gain posted by the BSE Realty index.