These real estate majors may gain from traction in Mumbai Metropolitan Region
Subscribe to enjoy similar stories. Residential sales in the crucial Mumbai Metropolitan Region (MMR) are booming. But this would come as a boost to only select listed real estate developers.
In January, the number of housing units registered in MMR rose 12% year-on-year to 12,249, clocking the best-ever registrations for the month, showed government data compiled by Nuvama Research. The value of units surged 31% year-on-year to around ₹16,600 crore. Macrotech Developers Ltd (Lodha) and Godrej Properties Ltd would be among the beneficiaries even as they are expanding into new geographies.
Backed by a robust performance in the nine months to December (9MFY25), both companies are confident of meeting and/or surpassing their FY25 pre-sales guidance, largely driven by new launches. Godrej Properties clocked pre-sales of ₹19,281 crore in 9MFY25, up 48% year-on-year. It achieved 71% of its FY25 guidance of ₹27,000 crore.
This is the highest ever nine-month sales for Godrej. Geographically, for Godrej, MMR bookings more than doubled (up 104%) to ₹5,155 crore for 9MFY25. In the December quarter (Q3FY25), Godrej launched seven new projects and phases across four cities.
It is looking to launch a few projects in MMR at Vashi, Bhandup, Carmichael Road and a new phase in Godrej Reserve in Q4. The Worli project launch is most likely in FY26. The company’s management is optimistic about building on the current momentum and expects a pre-sales run-rate of ₹7,700 crore in Q4FY25.
Rival Lodha has set FY25 pre-sales target at ₹17,500 crore and has clocked pre-sales of ₹12,820 crore 9MFY25. High-value markets of south & central Mumbai and Western suburbs led pre-sales growth for Lodha in Q3FY25. The company aims to increase its market
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