M3M India has recorded the highest ever sales of Rs 13,000 crore, which is 113% higher when compared to the sales of Rs 6,100 crore in FY ’22. The company has sold about 10 million square feet of space in FY ’23, which is about 81% higher when compared to FY’22 figure of 5.5 million square feet of space.
It also set a record by selling 6380 units, both in residential and commercial space, during the said financial year, which is about 60% higher on YoY basis.
M3M registered majority of its sales from residential projects, almost 70%, which accounted for Rs 9,307 crore. The commercial sales also rose 78% to Rs 3,693 crore.
During FY ’23, M3M launched a number of new retail and residential projects including – M3M Capital residential project, and a kilometre-wide retail project – M3M Capital Walk, both on the Dwarka Expressway as part of Smart City Delhi Airport vision. It also launched elite retail projects M3M Jewel on MG Road, right on the IFFCO Chowk in Gurugram, and M3M Route65 on Golf Course extension road.
During the same FY’23, M3M also delivered three projects – M3M Broadway (commercial), International Financial Centre (IFC – commercial & F&B) and M3M Skywalk (residential), comprising 2.1 million square feet of overall space – including 1.7 million of commercial space and 0.4 million of residential space. The company invested Rs 960 crore towards the construction cost in these projects. Further, more than 10 projects are under construction, comprising about 20 million square feet of overall space, where the company is investing about Rs 7,600 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. We are looking forward to a topline of about Rs 20,000 crore through these projects. The projects lined-up for launch include – residential and commercial projects in Noida, first-ever plotted development in Panipat on a 350-acre land-parcel, Aravalli view residential projects in sector-79 Gurugram, retail project in sector-57 in Gurugram, and ultra-luxury residential project on Dwarka Expressway in sector-111, Gurugram,” said Pankaj Bansal of M3M India.
M3M has committed an investment of Rs 7,500 crore in Uttar Pradesh in the recently concluded UP Global Investors Summit, 2023.
M3M is strongly placed in the real-estate sector with land-bank of about 3000 acres.
