Delhi realtor M3M clocks highest ever sales of ₹13,000 cr in FY23
Delhi-based real estate company M3M India is planning to expand to new cities. It is investing ₹7,600 crore in 10-odd under-construction projects spread over 200 million sq ft.
The company recorded its highest ever sales of ₹13,000 crore in FY23, up 113 per cent over FY22 ₹6,100 crore.
The majority of its sales, almost 70 per cent, were from residential projects, totalling ₹9,307 crore. Residential projects sales saw a 131 per cent increase year-on-year. In FY22, residential sales totalled ₹4,022 crore.
Commercial sales rose 78 per cent to ₹3,693 crore in FY23; while sales in the year-ago period was ₹2,078 crore.
Around 4,124 residential and 2,257 commercial units were sold in FY23.
M3M India, in a statement said, it has sold about 10 million sq ft of space in FY23, 81 per cent higher than in FY22 at 5.5 million sq ft.
“All projects launched prior to 2019 stand delivered,” the company statement said.
Source : The Hindu Business Line