Godrej Properties sells 670 apartments worth Rs 2,000 cr in Noida project
Godrej Properties, the real estate development arm of the Godrej Group, has sold 670 apartments worth over Rs 2,000 crore in its project, Godrej Tropical Isle, in sector 146, Noida.The project was launched in August 2023 nine months after the purchase of land parcel through an e-auction conducted by Noida Authority in November 2022.
This is Godrej Properties’ most successful launch in terms of the value and volume of sales achieved, the company said in a release.
“Noida is an extremely important market for Godrej Properties and we will look to further strengthen our presence in the years ahead,” said Gaurav Pandey, MD & CEO, Godrej Properties.
Sector 146 is a prominent upcoming residential corridor in Noida. It provides access to high-quality social infrastructure and is in proximity to commercial infrastructure like – Noida SEZ, entertainment hubs, Film City, etc.
Godrej Properties recorded 174% on-year growth in net profit at Rs 125 crore for the quarter ended June on the back of 251% rise in total income at Rs 1,315 crores.
The company’s bookings during the quarter had declined 11% to Rs 2,254 crore with 2.25 million sq ft sales.
The developer added four projects with a total estimated saleable area of 3.7 million sq ft and potential booking value of Rs 6,450 crore between April and July.
Shares of Godrej Properties were trading at Rs 1,561.90 during Monday early session, up 1.5% over Friday’s close.