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Properties worth Rs 1.17 lakh crore sold by 18 listed realty firms in FY24; Godrej properties at top
Money Control
·
1y ago
Medial
Major listed real estate developers in India have reported higher sales bookings in the 2023-24 fiscal year compared to the previous year. Godrej Properties emerged as the leader with sales bookings amounting to Rs 22,527 crore, followed by Prestige Estates Projects at Rs 21,040 crore. The surge in sales can be attributed to increased housing demand post-COVID-19 and a preference for established developers. The residential segment contributed significantly to overall sales. The trend showcases the recovery and growth of the Indian real estate market and the demand for luxury homes.
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Related News
Godrej Properties acquires 3-acre land in Ahmedabad to build housing project worth Rs 1,300 cr
Money Control
·
9m ago
Medial
Godrej Properties has purchased a 3-acre land parcel in Vastrapur, Ahmedabad, to develop a housing project worth around INR 1,300 crore ($175 million). The project is expected to have a potential of approximately 0.9 million square feet of saleable area. This acquisition marks Godrej Properties' second project in Ahmedabad and aims to strengthen its presence in the city. The company has been expanding its housing business by acquiring land through outright purchases and joint development partnerships. In the previous fiscal year, Godrej Properties became the largest listed real estate firm in terms of sale bookings.
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Godrej Properties acquires 46-acre land in Indore for plotted development
Money Control
·
1y ago
Medial
Godrej Properties has acquired approximately 46 acres of land in Indore, Madhya Pradesh for development. The land will primarily be used for plotted residential units, offering an estimated saleable area of around 1.16 million square feet. The details of the financial transaction have not been disclosed. Gaurav Pandey, MD & CEO of Godrej Properties, stated that the Indore-Ujjain Road area is a promising market for plotted development and aligns with the company's growth strategy. Godrej Properties has a strong presence in major real estate markets across India. In the previous financial year, the company recorded the highest sales bookings among listed real estate firms.
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Oberoi Realty Board approves plan to raise ₹6,000 crore | Mint
Livemint
·
10m ago
Medial
- Oberoi Realty's board approves a proposal to raise up to ₹6,000 crore through various means. - The company aims to use the funds for strategic expansion and growth opportunities. - Oberoi Realty sold properties worth ₹1,067 crore in the previous fiscal year. - The company received approval to acquire Nirmal Lifestyle Realty by paying ₹273 crore to its creditors. - In Q1 of FY25, Oberoi Realty reported a 54.42% increase in revenue and an 81.73% increase in profit year-on-year. - Selling, general, and administrative expenses decreased by 6.16% quarter-on-quarter but increased by 10.05% on a year-on-year basis.
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Godrej Properties achieves record sales of Rs 2,000+ cr with Godrej Jardinia launch in Noida
Money Control
·
1y ago
Medial
Godrej Properties has announced the sale of around 650 homes worth over Rs 2,000 crore in the Godrej Jardinia project in Noida. This marks their most successful launch in Noida in terms of sales value. The company aims to further strengthen its presence in the Noida market in the coming years. Sector 146, where the project is located, offers access to key infrastructure including Noida SEZ, entertainment hubs, and expressways. Godrej Properties had acquired 10 land parcels last year for housing projects worth over Rs 21,000 crore and aims to purchase more parcels this fiscal year.
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How Pirojsha Godrej changed India’s real estate business
Livemint
·
1y ago
Medial
Godrej Properties, the Indian real estate developer, has become the largest listed developer in terms of sales. In the fiscal year 2023-24, the company reported sales bookings of INR 22,527 crore ($3.2 billion), an 84% increase from the previous year. It sold 14,310 homes and achieved a net profit of INR 725.27 crore ($102 million). The company's growth has been driven by its focus on execution, customer-centric approach, and strong brand trust. Its future goals include sales of INR 27,000 crore ($3.8 billion) in the fiscal year 2024-25.
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WestBridge, Convergent, Sixth Sense Ventures make $75-mn exit move
VCCircle
·
1y ago
Medial
Private equity firms WestBridge Capital and Convergent Finance, along with venture capital firm Sixth Sense Ventures, have made an exit worth $75 million from an undisclosed company. These firms have joined a growing number of alternative investment firms that have been cashing out on publicly listed companies due to rising stock market valuations. WestBridge sold its entire stake in the company, while Convergent Finance and Sixth Sense Ventures also made significant divestments.
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Selloff deepens: Rs 9 lakh crore gone as Sensex, Nifty tumble for eighth straight session
Business Today
·
5m ago
Medial
The Indian stock market has experienced significant selloff, erasing Rs 27.09 lakh crore in investor wealth since February 4, 2025. The Sensex and Nifty indices have dropped by 3.19% and 3.43%, respectively. BSE-listed firms’ market capitalization reduced to Rs 398.41 lakh crore. A total of 3,351 stocks fell to 52-week lows, with 538 in the green and 3351 in the red. Foreign investors sold substantial equities, while domestic investors showed net buying activity.
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₹1 lakh invested in Paytm on day of its market debut now worth ₹20,000
Inshorts
·
1y ago
Medial
Shares of Paytm parent One97 Communications hit record low of ₹380 on Tuesday. An investment of ₹1 lakh in Paytm shares on the day of its market debut is now worth approximately ₹20,000, Times Now reported. Paytm made market debut on November 18, 2021. Its shares were listed at ₹1,950 on the bourses compared to the issue price of ₹2,150.
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Prestige Group sets record with FY24 sales topping ₹21,040 crore
Livemint
·
1y ago
Medial
Real estate developer Prestige Group achieved a record-breaking ₹21,040 crore worth of home sales in fiscal year 2023-24. This marks the highest annual sales by any developer, with a 63% increase year-on-year. The company also reported its highest-ever annual area sold at 20.25 million square feet, a 34% increase from the previous year. Prestige Group plans to launch new projects in Mumbai, Bengaluru, Chennai, and the NCR in FY25. Improving market conditions and strong customer trust have contributed to the company's success. Competitors like Godrej Properties and DLF are also expected to report high sales for the same period.
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Tracxn's Board Greenlits Stock Buyback Worth INR 8 Cr
Inc42
·
1m ago
Medial
Tracxn, a listed market intelligence platform, has approved a stock buyback program worth INR 8 crore. The company plans to purchase 11.42 lakh shares at INR 70 each, a 22% premium over the previous closing price of INR 57.37 on the BSE. This buyback, set for July 18, 2025, represents over 1% of Tracxn's total outstanding shares of 10.71 crore as of March 2025.
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