New Delhi: Gaurs Group, a leading name in NCR realty has posted a whopping growth of 500% YoY in Q2 of FY 18-19. The growth is the result of its increased sales in group housing projects.
Gaurs Group, a leading name in Indian realty since 23 years has sold 3185 units in Q2 in comparison to 538 units sold in Q 2 during last financial year. This year also saw a growth in number of projects which increased from 26 to 31, clearly showing an increasing demand for housing in Noida market. Over all the revenue in Q2 of FY 18-19 was INR 1320 crores in comparison to 220.4 crores in same quarter of last financial year. The major sales as per company's data, is divided equally in ready to move-in properties and under construction projects which includes Gaur city 1 & 2, Gaurs Siddhartham, Gaurs Platinum Towers, Gaur Saundaryam, Gaur Atulyam, Gaur Sportswood and Gaur Yamuna City.
Manoj Gaur, MD, Gaurs Group says, "We have been witnessing an upsurge in residential sales since the beginning of the FY. Infact in Q1 we did over 3100 property bookings which itself was very good. The good run continued in the 2nd quarter aswell, inspite of less inventory available. Moving forward we expect the year to end on a good note, as post implementing RERA, the confidence of the buyers seems to have increased. We at Gaurs are 100% RERA compliant company and all our projects are RERA certified. A customer knows that his investment is safe with us and we will deliver on time."
The realty group had recently announced its venture into affordable housing along with plans to expand in hospitality and education sector. The group has major land bank on Yamuna Expressway and is scouting for more land to develop affordable housing.