Godrej Properties is selling Rs 1,002 crore worth of homes in Pune Municipality this financial year

The Company has sold over 1,550 homes covering over 1.5 million square feet in this township development in the current fiscal year.

Godrej Properties Ltd said on Monday the company had sold houses worth Rs 1,002 crore in its community in Pune, Maharashtra, this fiscal year. In a regulatory filing, Goderej Properties Ltd (GPL) said it “had revenue of Rs 1,002 crore in FY22 from its Riverhills township project in Mahalunge, Pune”.

The Company has sold over 1,550 homes covering over 1.5 million square feet in this township development in the current fiscal year. Since launching its first phase in the community in September 2019, GPL has sold over 3,600 homes covering 3.4 million square feet with a booking value of over Rs 2,100 crore.

Mohit Malhotra, MD and CEO of Godrej Properties said, “Client confidence reflects the increasing demand for community and integrated developments by renowned developers”.

Riverhills is a mixed-use community nestled between a river and a hillside with over 8 acres of accessible greens, GPL said. This is one of the first townships in the planned 283-hectare high-tech city of Mahalunge Maan and is close to Baner residential center and Hinjewadi IT center, according to the filing.

On Thursday, GPL announced the sale of 855 houses worth Rs 1,650 crore within a year of launching its Godrej Woods project in Noida. The company is expected to hit an all-time high in sales bookings in FY2021-22, beating last year’s record Rs.6,725 crore. Housing brokerage firm Anarock reported that sales in the seven largest cities rose 71 percent year-on-year in 2021 to 2,36,530 units. According to real estate consultant PropTiger.com, home sales in eight major cities rose 13 percent in 2021 to 2,05,936 units from 1,82,639 units a year earlier.

https://www.financialexpress.com/industry/godrej-properties-sells-homes-worth-rs-1002-crore-so-far-this-fiscal-in-pune-township/2466328/ Godrej Properties is selling Rs 1,002 crore worth of homes in Pune Municipality this financial year

Chris Barrese

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