The company has added six new projects with a total saleable area of 6.34 million sq ft and total estimated booking value of Rs 6,025 crore so far this year.
“We are witnessing a lot of momentum in business development and hope to deliver Godrej Properties best-ever year in terms of new project additions through strong momentum in the second half of the year,” Godrej said. According to him, this in turn will ensure that the sharp increase in booking value this year is continued in the years ahead.
In the first half of this financial year, Godrej Properties has achieved its highest-ever sales for the first half of any financial year with its bookings valued at over Rs 4,930 crore. Of this, the second quarter witnessed total booking worth Rs 2,409 crore with total booking volume of 2.71 million sq ft.
“The current quarter is also looking good… we have not seen any major impact of the hikes in interest rates on our bookings. Even now the home loan rates are relatively lower than the earlier highs. We are on track to achieve and even top bookings worth Rs 10,000 crore in the current financial year,” Godrej said.
The cumulative hike in repo rate now stands at 190 basis points and housing loan rates have already been moved upward by lenders to over 8.0-8.5%. “We do not see home loan interest rates turning out to be a major dampener until it reaches the double-digit number,” he told ET said while adding the company has been able to achieve price increases in range of 5-10% across its projects in the last 6-9 months and the homebuyers have responded well to that as indicated by the bookings.
