New Delhi, March 22 Godrej Properties Ltd and Lodha Developers Ltd are optimistic about India's housing demand, as both real estate firms have acquired more than 25 land parcels so far this fiscal year to develop residential projects with a combined revenue potential of more than Rs 1 lakh crore.
According to an investor presentation, Lodha Developers acquired 11 land parcels across the Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, and Bengaluru during the first nine months of this fiscal year to develop housing projects.
These 11 land parcels acquired by the Lodha Group have an estimated saleable area of 20.6 million sq ft and an expected sales value of Rs 58,800 crore.
Similarly, Godrej Properties is also aggressively acquiring land parcels across tier-I and II cities for group housing and residential plotted development projects.
Godrej Properties has acquired nearly 20 land parcels so far this fiscal year to develop housing projects worth Rs 42,000 crore.
In the first nine months of this fiscal year, Godrej Properties acquired 12 land parcels to develop housing projects, with an estimated saleable area of 22.36 million sq ft and an expected booking value of Rs 24,650 crore, according to its investor presentation.
According to regulatory filings, Godrej Properties has acquired at least six land parcels so far this quarter to develop residential projects worth Rs 17,450 crore.
In order to add land for future development, both Godrej Properties and Lodha Developers acquire land parcels through outright purchases as well as forming partnerships with landowners.
After the Covid pandemic, housing sales have been strong, especially for premium luxury and ultra-luxury homes. Demand has gradually shifted towards larger, well-established developers.
Both companies, headquartered in Mumbai, are leading real estate developers in the country.
Godrej Properties develops group housing projects mainly in MMR, Delhi-NCR, Pune, Bengaluru, and Hyderabad, while it sells housing plots across various states.
Lodha Developers builds housing projects in MMR, Pune, and Bengaluru. It has recently entered the Delhi-NCR housing market.
In terms of sales bookings, Godrej Properties Ltd clocked sales bookings of Rs 24,008 crore in the first nine months of this fiscal year, while Lodha Developers sold properties worth Rs 14,640 crore during the April-December period of FY26.
Godrej Properties is confident of achieving a sales booking target of Rs 32,500 crore for this fiscal year and is likely to be the largest listed real estate firm in terms of pre-sales. Last fiscal year, it was also the number one listed developer with pre-sales of nearly Rs 30,000 crore.
Prestige Estates Projects Ltd, DLF Ltd, Lodha Developers, and Signature Global Ltd are among the top 5 listed developers in the first nine months of this fiscal year.
Lodha Developers Ltd has also expressed confidence that it will achieve a sales booking target of Rs 21,000 crore this fiscal year, driven by strong sales momentum in existing projects and a significant launch pipeline in the current quarter.
During the 2024-25 fiscal year, the company's sales bookings increased to Rs 17,630 crore, compared to Rs 14,520 crore in the previous year.
Mumbai-based Lodha Developers, which sells properties under the Lodha brand, has delivered 110 million sq ft of real estate to date and is constructing more than 130 million sq ft across its ongoing and planned portfolio.