Godrej Properties on track to meet or exceed Rs 32,500 crore pre-sales target for FY26: Pirojsha Godrej

Godrej Properties is on track to meet or even exceed Rs 32,500 crore sales bookings target for this fiscal as housing demand continues to be strong, its executive Chairperson Pirojsha Godrej said.

In an interview with PTI, he noted that the exuberance seen in the housing market post-COVID has calmed down, but the demand condition is still pretty strong. In the first quarter of this fiscal, Godrej Properties Ltd reported an 18 per cent decline in its pre-sales or sales bookings to Rs 7,082 crore.Pirojsha attributed the decline in pre-sales to high base effect and also a slight delay in launch of couple of projects.

Nevertheless, he said, ”We are very much on track to meet or exceed our booking value target for the current 2025-26 financial year”.The company’s launch pipeline for this fiscal is quite heavy, which will help in meeting the pre-sales target of Rs 32,500 crore easily, said Pirojsha. Asked about the overall current housing market scenario considering global uncertainties, he said, ”I think definitely, the kind of very exuberant market that was there may be a year ago has definitely settled down a little bit. But this is exactly what we would expect to see.”.

In the first few years of upcycle, Pirojsha mentioned that there is always a huge pent-up demand and sharp price appreciations. ”But I would say demand conditions still very strong, but not that kind of frothy looking demand that you see sometimes. So, I would say things have calmed down a little bit, but remain very, very positive,” he observed. Many property consultants have reported a decline in the total housing sales across the top seven cities in the last two quarters. Pirojsha highlighted that the company’s balance sheet is very strong, enabling it to make investments in land acquisition and development of projects for ensuring targeted growth of the overall business.