Godrej Properties Limited (GPL) officially stated key changes for Q4 & FY23. The company is having the highest quarterly & annual sales i.e bookings for Q4 FY23 of around Rs. 4,051 crores & booking value for FY23 has been grown by around 56% which will be Rs. 12,232 crores.
It also had growth of 19% QoQ in sales volumes in aspects of the area i.e. from 4.42 million sq. ft to 5.25 million sq. ft. And growth of 40% for the complete financial year in sales volume in aspects of the area i.e. 10.84 million sq. ft to 15.21 million sq. ft.
FY23 cash collections of GPL have grown by 41% i.e. to Rs. 8991 crores. Cash collections of Q4 FY23 stood at Rs. 3,822 crores. This represented the QoQ growth of around 127% & YoY growth of around 52%.
FY23 is the best year for the business development due to the addition of the 18 new projects. And the year will have a total saleable area of around 29 million sq. ft (estimated) & total booking value of around Rs. 32,000 crores (estimated). This calculation concludes 5 new projects considering the expected booking values of around 5750 crores in quarter 4.
The MD and CEO of Godrej Properties said “We are happy as our efforts of taking GPL to the new operational scale are getting its way to success. The 56% growth of sales bookings helped us to book total FY23 bookings of around Rs. 12,232 crores.
We have witnessed a remarkable increase in the growth of our collection by 41% to 8,991 crore, thanks to our strong sales performance and successful project completions of more than 10 million sq. ft. Moreover, our business development plans have almost doubled our initial expectations and have increased by around 200% YoY.
As a result, we are poised to have a great launch pipeline this year than ever before. And our teams have developed an in-depth understanding of all of India’s significant real estate markets and are enthusiastic about the potential to provide sustained high-potential & quality performances over all critical operating metrics in the next several years.”
