Godrej Properties is rising as sales bookings increased by 18% in the first half of FY21

During the April-September 2021 period, the real estate firm's sales bookings increased 18% to Rs 3,072 crore, owing to increased demand for its residential homes in Delhi-NCR.

In the previous financial year's similar period, sales bookings totalled Rs 2,605 crore.

According to an investor presentation, sales bookings increased 3% to 43,83,959 sq ft in the first six months of the current fiscal year, compared to 42,41,283 sq ft the previous year.

Residential properties provided Rs 3,051 crore to total sales bookings in the first half of 2021, while commercial properties only contributed Rs 20 crore.

The Delhi-NCR market led the way, with Rs 607 crore, with Rs 525 Mumbai Metropolitan Region (MMR), and Bengaluru.

Godrej Properties recently recorded a five-fold increase in its combined net profit for the September quarter, thanks to increasing revenues.

In the previous fiscal year, the company's net profit was Rs 7.10 crore.

Total income increased to Rs 334.22 crore in the second quarter of this fiscal year, up from Rs 250.23 crore the previous year.

"After a bad first quarter, the real estate market has rebounded substantially in the second quarter," said Pirojsha Godrej, executive chairman of Godrej Properties Ltd.

In terms of volume, sales bookings increased by 3% to 43,83,959 sq ft in the first half of the current fiscal year, compared to 42,41,283 sq ft the previous year. Residential properties provided Rs 3,051 crore to total sales bookings in the first half of 2021, while commercial properties only contributed Rs 20 crore. With Rs 1,063 crore in sales bookings, the Delhi-NCR market led the way, followed by Pune with Rs 607 crore, Mumbai Metropolitan Region with Rs 525, and Bengaluru with Rs 330 crore.

Properties of Godrej is a Godrej group real estate firm situated in Mumbai, Maharashtra. It is one of India's largest developments of real estate enterprises. Their business currently concentrates on commercial, residential, and township developments.