India's Housing Market Shows Steady Growth After Post-COVID Surge
India's real estate sector continues to demonstrate robust performance with consistent growth in both sales volumes and pricing, according to Pirojsha Godrej, Executive Chairperson of Godrej Properties. The market has stabilised following exceptional growth in the years immediately after the COVID-19 pandemic.
Speaking in a recent interview, Godrej expressed confidence that his company would comfortably achieve its ambitious sales booking target of Rs 32,500 crore for the current fiscal year. The company maintains strong momentum across key performance indicators, including customer collections, project deliveries, and strategic business development initiatives.
Market Stability Emerges After Exceptional Growth
"The housing market as a whole is holding up well," Godrej stated, addressing concerns about potential market softening. "Despite considerable discussion about market conditions, what we observe continues to be quite strong performance."
The company has recorded impressive sales bookings across major metropolitan areas, including Mumbai, Delhi-NCR, Bengaluru, Pune, and Hyderabad. Particularly encouraging has been the performance of housing plots in tier-two cities such as Panipat.
Godrej characterised the current market phase as a natural progression in the real estate cycle. "Following the initial recovery phase and subsequent years of rapid pricing and volume growth, we have reached a more steady state where prices perform well and volumes remain strong, though without the extraordinary growth witnessed previously," he explained.
Strong Financial Performance Continues
The company's operational metrics for the first nine months of the fiscal year demonstrate substantial progress. Sales bookings have increased by 25 percent to Rs 24,008 crore, positioning the company well to meet its annual target.
Collections have grown by 19 percent to Rs 12,018 crore during the same period, with expectations to reach the annual target of Rs 21,000 crore. Godrej anticipates significant collection activity in the final quarter, coinciding with planned project deliveries.
Regarding project completions, the company expects to exceed its annual target of 10 million square feet. Nearly 5 million square feet has been completed in the first nine months, with substantial deliveries scheduled for the current quarter.
Strategic Land Acquisition Programme
Godrej Properties has successfully acquired 12 land parcels with an estimated saleable area of 22.36 million square feet and expected booking value of Rs 24,650 crore. This achievement surpasses the company's annual target of adding Rs 20,000 crore worth of projects.
The company's recent financial results reflect this positive trajectory, with consolidated net profit increasing by 23 percent to Rs 193.87 crore for the quarter ended December, despite lower total income.
As one of India's leading real estate developers, Godrej Properties achieved record sales bookings of Rs 29,444 crore in the 2024-25 fiscal year, establishing itself as the largest listed real estate developer in the country.
Industry reports indicate that while housing sales volumes decreased across major cities during 2025, overall values increased due to price appreciation, reflecting the market's underlying strength and stability.