Realty developer M3M India mentioned it recorded sales of ₹13,000 crore, which was 113% increased than the sales of ₹6,100 crore reported in FY22.
“The company has sold about 10 million square feet of space in FY23, which is about 81% higher when compared to FY’22 figure of 5.5 million square feet of space,” the corporate mentioned in a press release.
It mentioned nearly 70% of its sales got here from residential tasks amounting to ₹9,307 crore, which is 131% increased on y-o-y foundation.
The industrial sales additionally rose 78% to ₹3,693 crore.
“M3M has an ambitious plan lined-up in the FY’24 with launching of combination of about 8-10 ultra-luxury residential and commercial projects in Gurugram, NOIDA and Panipat, with overall saleable space of about 14-15 million square feet,” mentioned Pankaj Bansal, Promotor and Director M3M India.
“The company is looking forward to a topline of about ₹20,000 crore through these projects,” he mentioned.
By the top of FY22, M3M had a debt of ₹1,873 crore, out of which the corporate has already paid ₹1,369 crore, the corporate mentioned.
In the present portfolio, M3M India has roughly 50 tasks with 3 crore sq.ft of delivered area, it added.
