Godrej Properties jumps on reporting 19% rise in sales volumes during Q4FY23

Godrej Properties is currently trading at Rs. 1216.15, up by 90.90 points or 8.08% from its previous closing of Rs. 1125.25 on the BSE.

The scrip opened at Rs. 1166.05 and has touched a high and low of Rs. 1219.40 and Rs. 1165.00 respectively. So far 42764 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1704.90 on 11-Apr-2022 and a 52 week low of Rs. 1005.70 on 29-Mar-2023.

Last one week high and low of the scrip stood at Rs. 1219.40 and Rs. 1029.50 respectively. The current market cap of the company is Rs. 33708.71 crore.

The promoters holding in the company stood at 58.48%, while Institutions and Non-Institutions held 31.96% and 9.55% respectively.

Godrej Properties has reported a 19 percent jump in sales volumes for the fourth quarter FY23 in terms of area from 4.42 million square feet (sq ft) to 5.25 million sq ft, while the same for the full financial year surged 40 percent from 10.84 million sq ft to 15.21 million sq ft. Its Q4 FY23, collections stood at Rs 3,822 crore, a sequential growth of 127 percent and an annual growth of 52 percent.

The company also recorded its highest-ever quarterly and annual project deliveries in Q4, where it delivered projects aggregating over 10 million sq ft across five cities in FY23, including 7.6 million sq ft in Q4.
The company has added 18 projects in FY23 with an estimated saleable area of nearly 29 million sq ft and an estimated booking value of Rs 32,000 crore more than double the BD guidance of Rs 15,000 crore of estimated booking value for FY23. This included five new projects with an expected booking value of Rs 5,750 crore in Q4.

Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.