A new housing project at Noida by Godrej Properties Ltd. sold about 670 flats worth more than Rs 2000 crore on Monday.
In November last year, the Noida Authority conducted an e-auction to sell the land to Godrej Properties.
According to Godrej Properties’ regulatory filing, it has sold 670 homes worth over Rs 2,000 crore in its Noida development, Godrej Tropical Isle. The company said that this is Godrej Properties’ most successful launch in terms of value and volume. In August, the project was launched.
“Noida is an extremely important market for Godrej Properties and we will strive to further strengthen our presence in the years to come,” says Gaurav Pandey, the CEO and MD of Godrej Properties. One of the country’s leading real estate developers is Godrej Properties, an arm of the business conglomerate Godrej Industries. Development of residential projects is primarily focused on Delhi-NCR, Mumbai Metropolitan Region, Bengaluru, and Pune.
In the April-June quarter of the 2023-24 fiscal year, Godrej Properties’ sales bookings declined 11% to Rs 2,254 crore from Rs 2,520 crore in the year-ago period.
With respect to its financial performance, Godrej Properties reported a nearly three-fold increase in consolidated net profit at Rs 124.94 crore in the June quarter compared to Rs 45.55 crore in the same quarter last year.
During the first quarter of this fiscal, the total income was Rs 1,265.98 crore, up from Rs 426.40 crore.