The lockdown will reflect in lower demand for homes and pre-sales from the June quarter onwards The benefits of Godrej Properties Ltd’s (GPL’s asset-light strategy were visible in its March quarter results.
Notwithstanding a slowdown in home sales due to covid-19, the firm’s pre-sales (bookings) of housing units rose 10% year-on-year for the quarter.
A large portion of this accrued from seven projects launched across major cities. The firm generated ₹480 crore cash surplus, which was the highest in eight quarters. “An asset-light, partnership driven model has always been the focus of Godrej Properties’s way to acquire new projects.