Godrej Properties is looking forward at launching around 18 projects in FY 2019- 20. It is targeted to have higher than the number of projects it launched in 2018-19. In the previous fiscal, the realtor had recorded its highest ever sales in a financial year. Godrej Properties stated that nearly four-fold jump in its net profit to Rs 156.66 crore for the quarter ended March 31 on the back of higher revenue and announced record sales bookings of over Rs 5,300 crore in the last fiscal.
Booking value of Rs 5,316 crore is likely to be the highest booking value achieved by any publicly listed real estate developer in India in FY2019.
The company had posted that to maintain the momentum, adding more new projects into its portfolio would be highly required. During FY-2019, another 16 new projects were launched of which five were during the fourth quarter, which included a mix of new projects as well as new phases in the existing projects.
Godrej have a series of launches planned to keep the pace of last FY, some of which are currently undergoing. It is planned that in each of its focus markets, they would like to have at least one new project launched in each of the quarter. They expect to further scale up business development and sales momentum in FY-2020 with a given thought of existing launch pipeline across the country.