The company said all projects launched before 2019 have already been completed and construction work on the remaining projects is in full swing. It has a land reserve of 3,000 acres in Gurugram, Noida and Panipat.
Real estate firm M3M India on Friday reported a 37 percent rise in residential and commercial property sales in the June quarter to Rs 3,911 crore on strong demand.
Revenue in the same period last year was Rs 2,854 crore.
Of the total sales bookings during April-June of the current financial year, Rs 2,972 crore was for residential real estate and Rs 940 crore was for commercial real estate, the company said in a statement.
In the first quarter of this fiscal, total sales in Gurugram stood at Rs 2,415 crore, while projects in Noida contributed Rs 402 crore, according to M3M India. Sales of residential plots in Panipat in Haryana stood at Rs 1,094 crore.
Sudeep Bhatt, President, M3M India, said the company reported “robust growth in our Q1 results for 2024-25, demonstrating our commitment to delivering quality real estate solutions.”
“With a strong pipeline of ultra-luxury projects scheduled to launch in FY2025, we are confident of maintaining this momentum and continuing to create value for our stakeholders,” Bhatt said.
M3M India has 56 projects spread across retail, residential, offices, serviced apartments, etc.
The company said all projects launched before 2019 have already been completed and construction work on the remaining projects is in full swing. It has a land reserve of 3,000 acres in Gurugram, Noida and Panipat.
According to real estate brokerage PropTiger, property sales in Delhi NCR rose 10 percent to 11,065 units during April-June this year from 10,058 units in the previous quarter.
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First published: 23 August 2024 | 17:03 IS
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