Godrej Properties sells homes worth Rs 22,500 crore in FY24, beats guidance; Q4 sales at Rs 9,500 crore
Real estate developer Godrej Properties on Tuesday announced that it has sold homes worth Rs 22,500 crore in FY24, reporting a growth of 84 per cent on-year. This, it added, was 61 per cent above the guidance provided by the company at the start of the year. “This is the highest ever annual sales announced to date by any publicly listed real estate developer in India,” Godrej Properties said in an exchange filing. The real estate developer sold 14,310 homes with a total area of 20 million sqft to achieve the sales number. 

Mumbai Real Estate: Raymond Realty has projects worth ₹30,000-crore revenue potential
Mumbai: Gautam Singhania-owned Raymond Realty is currently working on residential projects with gross revenue potential of ₹30,000 crore, bulk of which is coming up on 40 per cent of the 120 acres that it owns in Thane, which is part of the Mumbai Metropolitan Region. After the restructuring that Raymond Ltd went through, it is primarily a real estate company now with Thane, where it owns plenty of land as its focus area. However, it is spreading into the heart of Mumbai city as well.

Houses worth Rs 1.11 lakh crore sold during Q1 2024, up by 68% in value terms: Report
Continuing its upward trajectory, India’s top eight primary residential markets witnessed a strong demand during January-March (Q1 2024) this year with sales rising by 68 per cent in value terms to nearly Rs 1.11 lakh crore, according to a report by PropTiger.com.

Ajmera Realty Biz Update: Sales value surges 104% to Rs 287 crore during Q4, crosses Rs 1,000 crore mark in FY24
Ajmera Realty & Infra India Ltd on Monday announced that it has achieved sales value of Rs 287 crore during the fourth quarter of FY24, up 104 per cent in comparison to Rs 140 crore in Q4FY23. The collections for the quarter was at Rs 197 crore recording a growth of 91 per cent as against the same period last year. 

Quite a design rethink done to stay relevant, says Prestige Group CEO
Source Credit: Aneeka Chatterjee, Business Standard

Bengaluru: Real estate major Prestige Group reported a sales milestone of Rs 21,040 crore for FY24, marking a growth of 63 per cent year-on-year (Y-o-Y), as it declared its operational results for the fiscal year and fourth quarter on Monday. Its sales for the March quarter touched Rs 4,707 crore, up 21 per cent Y-o-Y. It also sold the highest number of units in FY24 totalling 10,068 units. VENKAT K NARAYANA, CEO of Prestige Group, talks about the company’s growth drivers and vision, in an interview with Aneeka Chatterjee in Bengaluru.

Edited excerpts
 

Road construction up 20% on year in FY24
New Delhi: Highway construction In the just-concluded financial year (FY24) touched 12,349 km, clocking the second-best performance ever, but fell short of the 'aspirational target' of 13,814 km, a senior official said on Tuesday.  Though the target was missed, the highway building in 2023-24 was up 20% as compared to 2022-23. 

IRB Infrastructure ends FY24 with sharp growth of 30 per cent in toll collection in March
IRB Infrastructure Developers Limited and its associate, IRB Infrastructure Trust, on Tuesday (April 9) announced a significant rise in their toll revenue growth. The firm reported a remarkable 30% year-on-year increase for the month of March 2024.