House that! Godrej Properties breaks record with ₹29,444 crore of sales in FY25

Godrej Properties Ltd (GPL) sold more than 15,000 homes worth a combined ₹29,444 crore in 2024-25, the highest ever by an Indian real estate firm, as the top listed developers continued to generate high-velocity sales.

The Mumbai-based developer topped its previous sales record of ₹22,500 crore from FY24 and surpassed its guidance of ₹27,000 crore for FY25.

“It is the highest ever full-year (sales) booking value and volume announced by any real estate developer in India to date,” the company said on Tuesday.
For the October-December quarter, Godrej Properties’ booking value grew 7% year-on-year to ₹10,163 crore through the sale of 3,703 homes.
This is the highest-ever quarterly booking value achieved by Godrej Properties.

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GPL’s sales numbers were announced a day after another Mumbai developer, Macrotech Developers Ltd (Lodha), said it clocked ₹17,630 crore of sales in FY25, surpassing its guidance of ₹17,500 crore.

Chart topper

GPL is likely to emerge as the highest-selling developer of FY25 among the top four listed ones, which also include Macrotech, DLF Ltd and Prestige Estates Projects Ltd.

“Godrej Properties will be the best-selling developer of FY25, as it was in FY24. GPL, DLF, Macrotech have all surpassed their sales targets. However, DLF and Prestige sales are unlikely to cross Godrej’s sales mark,” said an analyst at a brokerage firm, who didn’t wish to be named.

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DLF Ltd, India’s largest real estate developer, surpassed its FY25 sales guidance of ₹17,000 crore in the December quarter itself, helped by sales bookings in The Dahlias, a super luxury project in Gurugram. DLF’s sales bookings for the first nine months of FY25 stood at ₹19,187 crore.

Prestige Estates, which set a sales target of ₹24,000 crore for FY25, achieved only ₹10,066 crore of sales in April-December, though management was optimistic of achieving its full-year target.

“The equity capital of ₹6,000 crore we raised through a QIP (qualified institutional placement) in December 2024 combined with the record operating cash flow we generated in FY25 will enable us to continue to invest for growth,” said Gaurav Pandey, managing director and CEO, Godrej Properties.

The National Capital Region (NCR), Mumbai Metropolitan Region (MMR) and Bengaluru contributed more than ₹10,500 crore, ₹8,000 crore and ₹5,000 crore, respectively, of the developer’s booking value in FY25.

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