Godrej Properties shares in focus as Godrej Zenith sells Rs 3,000 crore worth homes in Gurugram's Sector 89

Shares of Godrej Properties Ltd will be in focus on Monday morning after the Mumbai-based real estate developer said it sold over 1,050 homes for over Rs 3,000 crore within three days of launch of Godrej Zenith in Sector 89 of Gurugram, Haryana.

A total of 2 million square feet of area in the project was sold, making this its most successful ever launch by both value and volume of sales. This is the second time in Gurugram, and the fourth time pan India, that Godrej Properties recorded launch sales of over Rs 2,000 crore.

In a filing to BSE, Godrej Properties said this was its most successful ever launch in terms of the value and volume of sales.

"Godrej Zenith is GPL's largest residential development in Gurugram. The company has recorded a 473% YoY 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," Godrej Properties said.

The planned launches will significantly strengthen Godrej's presence in the city.

Godrej Properties sold inventory worth Rs 2,690 crore in its project, Godrej Reserve, located in Kandivali, Mumbai in Q4 FY24. It also sold inventory worth over Rs 2,875 crore in its project, Godrej Aristocrat, located in Sector 49 on Golf Course Extension Road, Gurugram, and achieved sales worth over Rs 2,000 crore in its project, Godrej Tropical Isle in Noida in Q2FY24.

MD & CEO Gaurav Pandey said: “We are delighted with the response to our project, Godrej Zenith. We’d like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties. We will do our best to ensure Godrej Zenith offers its residents an outstanding living experience. Gurugram is an extremely important market for Godrej Properties, and we will look to further strengthen our presence in Gurugram in the years ahead."