New Delhi, February 8 India's housing market continues to be strong, with steady growth in sales volume as well as pricing, said Godrej Properties Executive Chairperson Pirojsha Godrej, ruling out any concerns on the demand side.
In an interview with PTI, he noted that the housing market has stabilized after witnessing a period of rapid growth following the COVID-19 pandemic.
Pirojsha expressed confidence that the company would easily achieve its sales booking target of Rs 32,500 crore for this fiscal year.
He also said the company would meet its annual targets in other key metrics, including customer fund collections, project deliveries, and business development (acquiring land for future projects).
"The overall housing market is holding up well. There's been a lot of talk about a market slowdown...But what we're seeing is still quite strong," Pirojsha said, highlighting the company's strong sales bookings across major cities, including the Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Pune, and Hyderabad, during the last calendar year.
He also said that the company's pre-sales of housing plots in Tier II cities like Panipat have been very encouraging.
"If you look at a typical real estate cycle, you go through an initial recovery phase, then a couple of years of rapid growth in both pricing and volume, and then you reach a more stable state. I think we're in that more stable state, where prices are doing well, and volumes are also strong, but not the rapid growth we saw a couple of years ago," Pirojsha observed.
According to reports from real estate consultants, housing sales dipped in terms of volume during the 2025 calendar year across 7-8 major cities, but rose in value due to price appreciation.
Talking about the company's operational performance in the first nine months of this fiscal, he said sales bookings have grown by 25 per cent to Rs 24,008 crore and would meet the target of Rs 32,500 crore for the full 2025-26 fiscal year.
"So, we are on track to meet the sales booking target, and hopefully, we can achieve even better results," he said.
Regarding collections, Pirojsha said they have grown by 19 per cent to Rs 12,018 crore in the first nine months of this fiscal, and the company hopes to achieve its annual target of Rs 21,000 crore.
"We are still on track to meet the target, but we had previously said that the fourth quarter (January-March) would be a strong period, as there are many project deliveries planned for this quarter, which will lead to higher collections. So, we are still optimistic about achieving the target," he said.
Regarding project deliveries, Pirojsha said the company would exceed its annual target of 10 million square feet in completion. Nearly 5 million square feet has been completed in the nine months of this fiscal, and a significant amount of deliveries are expected in the current quarter.
On land acquisition, the company's executive chairperson said they have acquired 12 land parcels with an estimated saleable area of 22.36 million sq. ft. and expected booking value of Rs 24,650 crore.
"Our target was to add projects worth Rs 20,000 crore. We have exceeded our annual guidance, and we expect a good quarter in business development," he said.
Regarding financial performance, Godrej Properties recently reported a 23 per cent increase in its consolidated net profit to Rs 193.87 crore for the quarter ended December, despite lower income.
Its net profit stood at Rs 158.20 crore in the year-ago period.
Total income declined to Rs 1,033.84 crore during the third quarter of this fiscal from Rs 1,239.97 crore in the corresponding period of the preceding year.
Godrej Properties is one of the leading real estate developers in the country.
The company became the largest listed real estate developer in the 2024-25 fiscal year, with record sales bookings of Rs 29,444 crore.
