Godrej Properties' shares surge by nearly 5% to hit a new 1-year high

Shares of Godrej Properties on Tuesday ended nearly 5 per cent up 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 during the day on the BSE.

Shares of Godrej Properties on Tuesday ended nearly 5 percent up after the company reported an 84 percent increase in sales bookings to a record Rs 22,500 crore in the last financial year.

The stock zoomed 7.85 percent to reach its one-year high of Rs 2,791.20 during the day on the BSE. It later ended at Rs 2,708, up 4.64 percent.

On the NSE, it climbed 7.84 percent to hit the one-year peak of Rs 2,791.80 during the day. The stock ended at Rs 2,705.70, a gain of 4.52 percent.

Realty firm Godrej Properties on Tuesday reported an 84 percent 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 percent 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.

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