Kamal Ghorui
India’s housing market remains strong, with steady growth in both sales volumes and prices, Godrej Properties Executive Chairperson Pirojsha Godrej has said, ruling out any major concerns about demand.In an interview with PTI, Godrej said that the residential market has now stabilised after witnessing unusually rapid growth in the years following the COVID-19 pandemic. He described the current phase as one of healthy and sustainable momentum rather than overheated expansion.“Housing market as a whole is holding up. Lots of talk about market softening…But what we are seeing continues to be quite strong,” he said, pointing to solid sales performance across key cities including the Mumbai Metropolitan Region, Delhi-NCR, Bengaluru, Pune and Hyderabad. He added that the pre-sales of housing plots in tier-II cities such as Panipat have also been encouraging.Godrej expressed confidence that the company would comfortably achieve its sales booking target of Rs 32,500 crore for the current financial year. He said that Godrej Properties is also on track to meet its annual guidance on other operational metrics such as customer collections, project deliveries, new launches and land acquisition.Explaining the broader market trend, he said that the housing sector typically moves from recovery to a phase of rapid price and volume growth, before settling into a more balanced stage. “I think we are in that more steady state now, where prices are doing well and volumes are strong, but not at the crazy growth levels seen a couple of years ago,” he said.Recent reports by real estate consultants have indicated that while housing sales volumes dipped across several major cities in the 2025 calendar year, overall sales value rose due to higher prices.On the company’s performance, Godrej said that sales bookings in the first nine months of the 2025–26 fiscal grew 25 per cent to Rs 24,008 crore, keeping it well on track to meet the full-year target. “Hopefully, we can do a little bit better,” he added.Customer collections rose 19 per cent to Rs 12,018 crore during the same period. Godrej said that collections are expected to pick up sharply in the January–March quarter due to a higher number of project deliveries, helping the company move closer to its annual target of Rs 21,000 crore.In terms of construction progress, he said that Godrej Properties is likely to exceed its annual completion target of 10 million square feet. About 5 million square feet has already been completed in the first nine months of the fiscal, with several deliveries scheduled in the final quarter.On business development, the company has acquired 12 land parcels with a total estimated saleable area of 22.36 million square feet and a potential booking value of Rs 24,650 crore. “The target was to add Rs 20,000 crore worth of projects. We have exceeded our annual guidance. We expect another good quarter on the business development front,” Godrej said. Financially, Godrej Properties reported a 23 per cent rise in consolidated net profit to Rs 193.87 crore for the quarter ended December, compared with Rs 158.20 crore a year earlier. However, total income declined to Rs 1,033.84 crore from Rs 1,239.97 crore in the same period last year.Godrej Properties is among India’s leading real estate developers and emerged as the largest listed real estate company in the 2024–25 fiscal year, after recording its highest-ever sales bookings of Rs 29,444 crore.
