Century Real Estate targets Rs2,000 Cr sales in FY25, led by surge in luxury and aspirational segment

PRNewswire
Bengaluru (Karnataka) [India], December 10: Coming to be known as the fastest growing city in the world, Bengaluru has witnessed a substantial boom in the luxury and aspirational real estate segments since 2020. Continuing its legacy of contributing to the city's growth story over the past 5 decades, Century Real Estate, one of the city's premier real estate developers, continued a remarkable 2X growth YoY in sales, recording an impressive Rs1,040 crores in the first half of the fiscal year. With a pipeline of new launches at prime locations, the company is aiming for crossing Rs2,000 crores in sales this fiscal, which should position it in the top tier of developers in the city by sales revenues. Surpasses Rs1040 Cr worth of bookings in H1 with 2X growth YoY.
The company witnessed a record Rs507 crores in sales in Q2 FY 2024-25, the company's highest ever in a single quarter. The company's key pre-launches in H1 - Codename Built Rare and Codename Unbelievable, generated over Rs700 crores in sales even before their launch. Codename Built Rare, alone recorded over Rs450 crores in the pre-launch phase, underscoring the high demand for luxury residences in prime locations like Indiranagar, where such large developments are rare. Closer to completion projects such as Century Ethos, Century Wintersun, and Century Trails also contributed over Rs300 crores to the overall sales figures for the company.
Speaking on the company's phenomenal growth story & the exciting upcoming projects, Mahesh Prabhu, CEO - Century Real Estate said, "Our growth is a testament to our unwavering focus on thinking ahead in embellishing the Bengaluru skyline with world-class developments; and on building a customer-centric and people-focused organization. At Century, we believe our people are our greatest asset. Our young & talented team, with individuals from top institutes & corporates, continues to be our biggest strength, driving our vision with innovation and expertise. As we continue to build the company of the future, we remain committed to contributing to the city's growth as a world city, and setting new standards in the industry. I am excited about the large prime developments coming up in East & North Bengaluru later this year. As we bring in more of our prime land banks into these new developments, these upcoming launches will offer unmatched locations, world class homes and many best in class amenities."
As the company moves ahead in contributing its bit to Bengaluru's development journey, it remains committed to bringing more of its prime land into the market and executing high-quality developments that resonate with today's discerning homebuyers. The impressive performance of key projects in the first half of the year has set the stage for the upcoming large-scale projects at equally prime and sought-after locations in Bengaluru.
Speaking about how the company is adapting to the changing needs of home-buyers in the post-Covid era, Maninder Chhabra, Director - Sales, Marketing & CRM, shared, "There has been a noticeable shift in homebuyers' preferences, wherein they opt for larger homes in developments with enhanced amenities and integrated ecosystems that provide a holistic living experience. Millennials, in particular, are driving this demand, seeking thoughtfully crafted spaces and opting for developers who offer superior product design, new-age amenities & a professional experience, to match their lifestyle aspirations. Century Real Estate has addressed these shifting preferences by delivering high-quality, locally relevant offerings with differentiated positioning and marketing strategies tailored to each project. As a result, the company has seen over 10X growth in sales in the past 5 years and near-total sell-outs of new launches, reflecting the confidence of both the discerning connoisseurs of modern luxury & the millennial home buyers in the company, in creating spaces that meet their rising aspirations."
About Century Real Estate Holdings Private Limited
Founded by Dr. P Dayananda Pai and P Satish Pai in 1973, Century Real Estate is an integrated, full-service real estate development company. With a rich legacy of 50+ years, Century Real Estate is regarded as one of the oldest and most respected real estate companies in South India. At the helm of affairs since 2003 is P Ravindra Pai, the Managing Director.
The company has a land bank of over 3000 acres, and a development portfolio of over 20 million sq.ft., comprising premium residential and commercial assets like hotels, office buildings, residences, educational institutions, and integrated townships. The company owns among the most prime lands and real-estate in the region.
Century Real Estate has seen remarkable growth in recent years, with many of its new projects getting sold out within a few months of launch - a testament to the demand for the company's high-quality & new-age offerings. It has also won numerous awards for its new-age product design, differentiated marketing campaigns, customer experience and its people-culture initiatives.
Photo: https://mma.prnewswire.com/media/2576310/Codename_Built_Rare.jpg
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)