Godrej Properties and Macrotech Developers Shares could see a steady rise in the short term as both of them have witnessed strong growth in their revenue. The real estate market is showing strength and many real estate developers across India have reported strong sales. This could result in re-rating of the organized real estate sector in India.

India's real estate sector is witnessing a remarkable surge, with two leading developers, Godrej Properties and Macrotech Developers, reporting combined property sales of over ₹22,000 crore during the first half of the current fiscal year. This represents a 56% year-on-year growth, driven by a strong demand for premium and luxury homes. Godrej Properties achieved record-breaking sales of ₹13,800 crore, while Macrotech Developers booked ₹8,320 crore in sales. Both companies have set ambitious targets for the 2024-25 fiscal year, riding on robust consumer demand, favorable market conditions, and a resilient post-pandemic economy.

Godrej Properties and Macrotech Developers Achieve ₹22,000 Crore in Sales

Combined sales surge by 56% in H1 FY24
The two realty giants, Godrej Properties and Macrotech Developers, collectively sold properties worth ₹22,120 crore during April-September 2024, a 56% increase compared to ₹14,178 crore in the same period last year. This exceptional growth underscores the strong demand for residential properties, particularly in the premium segment, across key urban markets.

Godrej Properties Leads with Record Sales

Sales bookings hit ₹13,800 crore in H1 FY24
Godrej Properties reported an 89% year-on-year growth in sales bookings, with ₹13,800 crore worth of properties sold in the first half of the fiscal year. This marks the company's highest-ever sales booking for a six-month period and reflects its successful project mix and strong volume growth across multiple markets, including the recently entered Hyderabad.

Macrotech Developers Records 21% Growth

Sales bookings rise to ₹8,320 crore
Macrotech Developers, known for its Lodha brand, registered a 21% growth in sales bookings, achieving ₹8,320 crore during the same period. This solid performance keeps the company on track to meet its full-year sales guidance of ₹17,500 crore, reflecting sustained demand for housing in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru.

Strong Market Fundamentals Fuel Growth

Housing market buoyed by pent-up demand
The post-pandemic real estate market has experienced a resurgence, with a growing appetite for homeownership and rising economic optimism driving sales. Consumer preferences have shifted towards reputed developers with strong execution capabilities, fueling demand for premium homes despite rising property prices.

Godrej and Macrotech Confident of Meeting FY25 Targets

Ambitious sales targets for the full fiscal year
Both developers have set ambitious sales targets for FY25. Godrej Properties aims for ₹27,500 crore in sales bookings, while Macrotech Developers is targeting ₹17,500 crore. This confidence is bolstered by their strong first-half performances and the expected boost in sales during the upcoming festive season.

Real Estate Sector Set for Festive Season Boost

Strong pre-sales and festive launches anticipated
With the festive season underway, the real estate sector is poised for a further sales uptick. Both Godrej Properties and Macrotech Developers are preparing to capitalize on this period with new launches and heightened consumer demand, keeping the overall sales momentum robust.

Leadership’s Optimism Reflects Strong Industry Sentiment

Executives highlight growth potential
Godrej Properties' MD and CEO, Gaurav Pandey, expressed satisfaction with the company’s remarkable sales performance, noting that H1 FY25 sales have already surpassed the company’s annual bookings for FY23. Macrotech Developers similarly remains confident of achieving its growth targets, with executives emphasizing the continued demand for high-quality housing developments.

The Indian real estate market, particularly in the premium housing sector, continues to thrive, reflecting a broader trend of rising consumer confidence and economic growth, making it a key sector to watch in the coming quarters.