Shapoorji Pallonji's Joyville sold properties worth Rs 1,100 cr in FY21

Shapoorji Pallonji Group's housing platform Joyville Shapoorji Housing Private Limited sold properties costing nearly Rs 1,100 crore in the last FY, double than last year, on a huge demand for its apartments among low-interest rate home loans. Joyville, with a Rs 1,249 crore platform, has introduced six housing projects in four major cities till now. Joyville Housing Managing Director Sriram Mahadevan told the media that despite the Covid-19 pandemic, 2020-21 was the best year for Joyville. The company sold around 2,000 properties through FY21, up 150% from the last year in which they sold 800 units. Mahadevan attributed several factors to the strong performance of the company throughout the last FY. These include pent up demand because of the nationwide lockdown, low-interest prices on home loans, the Maharashtra government's declaration to cut stamp duty on registration of properties and newly launched projects by the company in various cities. After the first nationwide lockdown, imposed in March last year, the company designed a digital platform to provide virtual tours of projects for customers. So far, six housing projects below the Joyville platform have been launched: three in Pune and one each in Kolkata, Mumbai, and Gurugram. Throughout the last FY, Joyville started two new projects in Haryana, Gurugram, and Kolkata. Besides this platform, Shapoorji Pallonji group firm Shapoorji Pallonji Real Estate has constructed a pipeline of over 80 million sq ft. Shapoorji Pallonji Real Estate and Joyville are not the listed entities. Real estate developers listed on the stock exchanges disclose their sales booking numbers on a quarterly and annual basis. Unlisted companies usually do not reveal their numbers. Among the listed entities, Mumbai-based Godrej Properties has obtained the highest sales bookings through the FY21, excelling Macrotech Developers. Image Source Also read: Housing sales rise 93% Y-o-Y in Q2 2021, but dip 58% Q-o-Q amid 2nd wave Also read: HBS seeks Rs 1,600 cr from society in Mumbai which called off deal