Century Real Estate aims for Rs 21 bn sales in FY25
The company attributed this growth to the strong demand for Century?s projects across various segments. Century Novus, launched in April 2023, was sold out within six months. The premium plotted offerings, Century Eden Prime and Century Trails, sold most of their inventory within the first month of launch. Century Ethos, the flagship luxury offering, was also sold out. Overall, Century sold 96% of its residential inventory from the start of FY24.
Encouraged by the response to its projects, Century Real Estate, known for its extensive land banks in Bengaluru for decades, plans to introduce many of its prime land parcels to the market through new large-scale projects. The company is targeting Rs 21 billion in sales for FY25, driven by its upcoming project pipeline.
Ravindra Pai, MD of Century Real Estate, noted that they were close to completing several key projects in both residential and commercial segments and expressed satisfaction with the market's overwhelming response. He highlighted that the Bengaluru real estate market, underpinned by strong fundamentals, was quickly becoming the most desirable in the country. Century Real Estate plans to develop prime land parcels in sought-after locations in Bengaluru, offering luxury residential and commercial projects. These projects are expected to introduce inventory worth over Rs 72 billiob into the market this fiscal year, providing a range of options for buyers in Bengaluru.
Maninder Chhabra, Director of Sales, Marketing & CRM, mentioned that FY24 had been an exceptional year with multiple successful launches, record sales, and standout marketing campaigns. He expressed excitement about the new projects in ultra-prime locations across Bengaluru, starting with a highly anticipated luxury development in Indiranagar soon.