Status Estates Q1 Outcomes: Sale bookings fall 23% YoY to Rs 3,029 cr

Realty agency Status Estates Tasks Ltd has reported a 23 per cent decline in its sale bookings to Rs 3,029.5 crore within the first quarter of this fiscal on decrease volumes attributable to delay in launches of latest tasks. Its sale bookings stood at Rs 3,914.7 crore within the year-ago interval.

In a regulatory submitting, Status Estates mentioned the corporate bought 2.86 million sq. toes in April-June in opposition to 3.83 million sq. toes within the corresponding interval of the earlier yr.

Complete items bought in the course of the first quarter of 2024-25 have been 1,364.

The common realisation was Rs 11,934 per sq. toes for flats, villas and business areas, up by 16 per cent year-on-year (yoy).

Plots noticed a median realisation of Rs 7,285 per sq ft, up by 46 per cent yoy. “We’re happy with our efficiency in Q1 FY25, which displays our sturdy market presence. Regardless of the lag in approvals and mission launches in the course of the election interval, we nonetheless crossed a commendable gross sales determine of Rs 3,000 crore,” Irfan Razack, Chairman and Managing Director of Status Estates Tasks, mentioned. He mentioned the corporate has maintained a wholesome mixture of gross sales from its prime geographies — Bengaluru (43 per cent), Hyderabad (32 per cent), and Mumbai (23 per cent). “Within the upcoming quarters, we look ahead to launching an intensive pipeline of tasks throughout various geographies,” Razack mentioned.

These tasks will additional strengthen its market place, he mentioned.

Status Group, one of many main actual property builders within the nation, builds residential, workplace, retail, hospitality and warehouse tasks.

Status Group has accomplished 300 tasks spanning a developable space of 190 million sq. toes.