Surpasses ₹1040 Cr worth of bookings in H1 with 2X growth YoY ~
BENGALURU, India, Dec. 10, 2024 /PRNewswire/ — Coming to be known as the fastest growing city in the world, Bengaluru has witnessed a substantial boom in the luxury and aspirational real estate segments since 2020. Continuing its legacy of contributing to the city’s growth story over the past 5 decades, Century Real Estate, one of the city’s premier real estate developers, continued a remarkable 2X growth YoY in sales, recording an impressive ₹1,040 crores in the first half of the fiscal year. With a pipeline of new launches at prime locations, the company is aiming for crossing ₹2,000 crores in sales this fiscal, which should position it in the top tier of developers in the city by sales revenues.
The company witnessed a record ₹507 crores in sales in Q2 FY 2024-25, the company’s highest ever in a single quarter. The company’s key pre-launches in H1 – Codename Built Rare and Codename Unbelievable, generated over ₹700 crores in sales even before their launch. Codename Built Rare, alone recorded over ₹450 crores in the pre-launch phase, underscoring the high demand for luxury residences in prime locations like Indiranagar, where such large developments are rare. Closer to completion projects such as Century Ethos, Century Wintersun, and Century Trails also contributed over ₹300 crores to the overall sales figures for the company.
Speaking on the company’s phenomenal growth story & the exciting upcoming projects, Mahesh Prabhu, CEO – Century Real Estate said, “Our growth is a testament to our unwavering focus on thinking ahead in embellishing the Bengaluru skyline with world-class developments; and on building a customer-centric and people-focused organization. At Century, we believe our people are our greatest asset. Our young & talented team, with individuals from top institutes & corporates, continues to be our biggest strength, driving our vision with innovation and expertise. As we continue to build the company of the future, we remain committed to contributing to the city’s growth as a world city, and setting new standards in the industry. I am excited about the large prime developments coming up in East & North Bengaluru later this year. As we bring in more of our prime land banks into these new developments, these upcoming launches will offer unmatched locations, world class homes and many best in class amenities.”
As the company moves ahead in contributing its bit to Bengaluru’s development journey, it remains committed to bringing more of its prime land into the market and executing high-quality developments that resonate with today’s discerning homebuyers. The impressive performance of key projects in the first half of the year has set the stage for the upcoming large-scale projects at equally prime and sought-after locations in Bengaluru.
Speaking about how the company is adapting to the changing needs of home-buyers in the post-Covid era, Maninder Chhabra, Director – Sales, Marketing & CRM, shared, “There has been a noticeable shift in homebuyers’ preferences, wherein they opt for larger homes in developments with enhanced amenities and integrated ecosystems that provide a holistic living experience. Millennials, in particular, are driving this demand, seeking thoughtfully crafted spaces and opting for developers who offer superior product design, new-age amenities & a professional experience, to match their lifestyle aspirations. Century Real Estate has addressed these shifting preferences by delivering high-quality, locally relevant offerings with differentiated positioning and marketing strategies tailored to each project. As a result, the company has seen over 10X growth in sales in the past 5 years and near-total sell-outs of new launches, reflecting the confidence of both the discerning connoisseurs of modern luxury & the millennial home buyers in the company, in creating spaces that meet their rising aspirations.”