Apr 8, 2024: Gurgaon: In a remarkable feat, Mumbai-based real estate developer Godrej Properties Ltd. has achieved unprecedented success with its latest project, “Godrej Zenith,” located in Gurugram, Haryana. Within just three days of its launch, the company reported sales amounting to a staggering ₹3,000 crore, marking a significant milestone in both value and volume terms. This achievement solidifies “Godrej Zenith” as the company’s most successful launch to date.
The project witnessed overwhelming demand, with a total of 1,050 homes sold, encompassing over 2 million square feet of area. This remarkable response underscores the strong market presence and customer appeal of Godrej Properties, further consolidating its position as a leading player in the real estate sector.
Notably, this is the fourth instance in the financial year 2024 where Godrej Properties has exceeded sales of ₹2,000 crore in a single project launch, reflecting the company’s consistent track record of delivering exceptional results. The success of “Godrej Zenith” follows similar triumphs in Gurugram and other key markets across India.
“Godrej Zenith” represents the company’s largest residential development in Gurugram, contributing significantly to its robust sales performance in the region. With a remarkable 473% increase in sales reported for the Gurugram market in financial year 2024, Godrej Properties has demonstrated its ability to capitalize on market opportunities and meet evolving consumer demands.
Looking ahead, Godrej Properties has a strong launch pipeline for financial year 2025, indicating continued growth and expansion across key markets. The company’s strategic focus on developing high-quality residential projects and catering to diverse customer needs positions it for sustained success in the dynamic real estate landscape.
In addition to its achievements in Gurugram, Godrej Properties recently announced plans to develop a residential project in Bengaluru with a booking potential exceeding ₹5,000 crore, further enhancing its presence in high-growth markets.
Brokerage firm Morgan Stanley has upgraded its rating on Godrej Properties to “overweight” and raised its price target on the stock to ₹2,500 from ₹2,050. This reflects the firm’s optimistic outlook on the company’s growth prospects, particularly in terms of pre-sales and market performance.
Driven by these positive developments, shares of Godrej Properties are trading at a record high, demonstrating a remarkable 5.2% increase to reach ₹2,637. Over the past 12 months, the stock has witnessed a doubling in value, reflecting investor confidence and market enthusiasm surrounding the company’s future prospects.
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