Godrej Properties FY20 booking value up by 11 per cent

Mumbai-based real estate developer, Godrej Properties has announced its operational updates for Q4FY20 and FY20.

Looking at FY20, the total booking value is up by 11 per cent YoY at Rs 5,915 crore with residential sales increasing by 14 per cent YoY to Rs 5,840 crore, comprising of over 7,300 homes sold. The company launched 17 new projects in FY20, including six launches in Q4.

Sustenance sales grew YoY by 48 per cent in FY20 to Rs 3,048 crore. Q4 FY20 bookings stood at Rs 2,380 crore representing QoQ growth of 100 per cent and YoY growth of 10 per cent. The company sold over 3,000 homes in Q4FY20, which delivered highest values of home sold in any quarter.

The sales in Q4 included over 500 homes sold in the second half of March as the company focussed on digital sales tool to sustain operations despite the lockdown.

The company added 10 new projects in FY20 including five new projects in Q4. Also, the company’s 24 projects in Pune have received its occupation certificate in Q4FY20 within 24 months of beginning the construction. This is the fastest-ever project completion for the company.

While looking at FY21, the company has guided muted start on lockdown and Coronavirus pandemic.

In today’s trading session, the stock of Godrej Properties jumped nearly 10 per cent and made an intraday of Rs 667.80 on BSE.