Godrej Properties' shares climb nearly 8%; reach 1-year peak

New Delhi: Shares of Godrej Properties on Tuesday jumped nearly 8 per cent after the company reported a 84 per cent increase in sales bookings to a record Rs 22,500 crore in the last financial year.

The stock zoomed 7.85 per cent to reach its one-year high of Rs 2,791.20 on the BSE.

On the NSE, it climbed 7.84 per cent to hit the one-year peak of Rs 2,791.80.

Realty firm Godrej Properties on Tuesday reported a 84 per cent increase in sales bookings to a record Rs 22,500 crore in the last financial year, on higher volumes amid strong consumer demand for residential properties.

Godrej Properties has surpassed the sales booking numbers of Bengaluru-based Prestige Group, which on Monday reported pre-sales of Rs 21,040 crore during the last fiscal year.

In a regulatory filing, Godrej Properties said the company has achieved its best-ever quarterly and annual sales in the fourth quarter of the last fiscal and for the full 2023-24, respectively.

During the fourth quarter of the last fiscal, Godrej Properties' sales bookings more than doubled to over Rs 9,500 crore year-on-year.

Its sales bookings during the last fiscal grew by 84 per cent year-on-year to more than Rs 22,500 crore.

"This is the highest-ever annual sales announced to date by any publicly listed real estate developer in India. This was achieved through the sale of 14,310 homes with a total area of 20 million square feet," the company said.