The Real Estate Industry in India Market size is estimated at USD 0.33 trillion in 2024, and is expected to reach USD 1.04 trillion by 2029, growing at a CAGR of 25.60 Percent, complemented by the growth in the corporate environment and the demand for office space as well as urban and semi-urban accommodation.
Here are some of the realty stocks that have released their Q4 business update with robust performance thereby gaining up to 10 percent in the day’s trade.
Godrej Properties Limited
Godrej Properties Limited (GPL) is engaged in the business of real estate construction, development, and other related activities operating through the Godrej Brand, some of which are Godrej Avenues, Godrej Icon, Godrej United, and many more.
Godrej Properties Limited has released its year-ended/quarterly business update, its Q4 FY24 booking value grew by 135 percent to more than Rs. 9,500 crores, This is the highest-ever quarterly sales announced to date by any publicly listed real estate developer in India. This was achieved by selling 5,331 homes with a total area of over 8 million sq. ft.
Its FY 24 booking value grew by 84 percent to more than Rs. 22,500 crores and 61 percent above the guidance provided at the start of the year. This was achieved by selling 14,310 homes with a total area of 20 million sq. ft. The Sales volume for Q4FY24 grew by 56 percent to 8.17 million sq. ft.
The Sales were driven by excellent consumer demand in some new key project launches. Godrej Zenith in NCR achieved a booking value of more than Rs.3,000 crore and Godrej Reserve in MMR achieved a booking value of Rs. 2,690 crore. Both of these projects were the best-ever launches for GPL in the respective markets.
Godrej Properties Limited bookings in NCR in FY 24 grew 180 percent to over Rs. 10,000 Crores and its bookings in MMR grew 114 percent to over Rs. 6,500 crore.
Its revenue from operations grew by 68.36 percent from Rs. 196 Crores in Q3FY23 to Rs. 330 Crores in Q3FY24, accompanied by profits of Rs. 56 Crores to Rs. 63 Crores.
Ajmera Realty & Infra India Limited
Ajmera Realty & Infra India is a realty company engaged in the business of providing residential and rented commercial properties, project development, redevelopment activities, and many more.
Ajmera Realty & Infra India Limited achieved a sales value of Rs. 287 Crores and collections of Rs. 197 crores for the Fourth Quarter of FY24 with a growth of 104 percent and 91 percent respectively as compared to the Fourth Quarter of FY23. It has achieved its highest-ever pre-sales figures, totaling Rs. 1,017 crores, in alignment with the stated guidance.
It achieved an impressive twofold sale in Q4 FY24, surging to Rs. 287 Crore from Rs. 140 Crores in Q4 FY23. With the connectivity boost facilitated by the inauguration of Atal Setu, Wadala, its flagship micro market, has experienced a strong surge in demand, significantly contributing to this growth.
The company strategically added six projects to its pipeline, aligning with its low capex model and inorganic growth strategy. This expansion increased the launch pipeline to 1.3 mn sq. ft. with a Gross Development Value (GDV) of Rs. 3,130 crores, further solidifying its presence in various micro-markets within the MMR region.
Its sales momentum across the portfolio witnessed a significant upsurge, complemented by the successful launch of two projects valued at Rs. 500 Crore GDV in the central belt of MMR.
Notably, it has achieved the remarkable milestone of delivering ~1,000 possessions across three projects within 24 hours, demonstrating its unwavering dedication to customer satisfaction and adherence to project delivery schedules.
Its revenue from operations grew by 162 percent from Rs. 79 Crores in Q3FY23 to Rs. 207 Crores in Q3FY24, accompanied by profits of Rs. 11 Crores to Rs. 30 Crores.
Written by: Bharath K.S
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