Godrej Properties FY20 booking value up 11 pc at Rs 5,915 crore

Mumbai (Maharashtra) [India], April 6 (ANI): Realty major Godrej Properties said on Monday its total booking value for the financial year 2019-20 was up by 11 per cent year-on-year at Rs 5,915 crore with residential sales increasing by 14 per cent to Rs 5,840 crore comprising of over 7,300 homes sold.
The company launched 17 new projects and phases in FY 20 including six launches in the fourth quarter. Sustenance sales grew by 48 per cent in FY 20 to Rs 3,048 crore.
Q4 FY20 bookings stood at Rs 2,380 crore, representing quarter-on-quarter growth of 100 per cent and year-on-year growth of 10 per cent. The company sold over 3,000 homes in the fourth quarter.
"The number of homes sold and the value of homes sold were the highest the company achieved in any quarter," the company said in a statement.
The sales in Q4 included over 500 homes sold in the second half of March as the company focused on digital sales tools to sustain operations despite the lockdown.
The company added 10 new projects in FY 20 including five new projects in Q4. Godrej 24 in Pune received its occupation certificate in Q4 within 24 months of starting construction. This is the fastest ever project completion for the company.
"While the start of FY21 may be muted as the lockdown and the subsequent economic toll postpone economic activity, Godrej Properties' healthy balance sheet and project pipeline will help maintain operational momentum in the months ahead," the company said.
Godrej Properties said it will continue to focus its effort on supporting the country's response to COVID-19 by ensuring meals for all construction workers at its sites across the country, assisting the government's efforts to procure critical materials such as testing kits, bed capacity and personal protective equipment for healthcare workers, and ensuring stability for its employees and other stakeholders. (ANI)