The stock of Godrej Properties (GPL) has been hitting fresh 52-week highs on the back of strong bookings or pre-sales, expanding portfolio and expectations that its growth momentum will continue in FY24. The company posted its highest sales bookings in the March quarter at Rs 4,000 crore which was up 25 per cent on a y-o-y and sequential basis.
This was the second consecutive quarter of record bookings with orders coming from across projects and no project contributing to more than 10 per cent of bookings. The record sales were aided by 7.6 million square feet of launches in the quarter which accounted for 60 per cent of the sales in Q4. Helped by 5.3 million square feet of sales,