M3M India reported a 37% increase in sales for Q1FY25, reaching INR 3911 crore. This growth is attributed to strong market demand and significant bank support. The residential and plot development segment saw a 46% rise in sales, totalling INR 2971 crore, while the commercial segment grew by 14% to INR. 940 crore. The plotted development segment experienced a remarkable 300% increase, reaching INT. 1094 crore. M3M's financial stability is reinforced by INR. 4600 crore in backing from major banks. With several ultra-luxury projects planned, M3M India is set to sustain its strong market position.
M3M India, a major real estate developer with 56 projects across residential, commercial, and plotted segments, continues to demonstrate its market strength. The company holds a significant presence in key locations like Gurugram, Noida, and Panipat, and is known for delivering high-quality real estate solutions. With an impressive land bank of 3,000 acres, M3M has successfully delivered all projects launched before 2019.
In the first quarter of the financial year 2024-25, M3M India reported a remarkable increase in sales, reaching INR. 3911 crore. This represents a 37% growth compared to the INR. 2854 crore achieved in the same quarter of the previous year. The company attributes this success to strong market demand and significant financial backing from banks.
The company's performance across different segments saw significant growth. In the residential and plot development segment, sales increased by 46% to INR 2971 crore, compared to INR 2028 crore in the previous year. The commercial segment also performed well, with sales increasing by 14% to INR 940 crore, up from INR 826 crore in Q1FY24. Specifically, sales in Gurugram projects rose by 6.25% to INR 2415 crore, while in Noida, they jumped by 34% to INR 402 crore. One of the standout achievements was in the plotted development segment, where M3M registered an impressive 300% year-on-year growth, reaching INR 1094 crore in Q1FY25.
Sudeep Bhatt, President of M3M India, expressed excitement over the company's strong growth in Q1FY25. He highlighted that this success reflects their dedication to delivering top-quality real estate and satisfying customers. Bhatt also mentioned that with several ultra-luxury projects set to launch in FY-25, they are confident in maintaining this growth and continuing to provide value to their stakeholders.
M3M's financial health remains robust, strengthened by strong support from major banks. Financial institutions like ICICI, HDFC, SBI, Central Bank of India, Bank of Maharashtra, Canara Bank, and Axis Bank have provided M3M with financial support totalling INR 4600 crore. This significant backing has been crucial in strengthening the company's operations and market presence, underlining its strong market positioning and the growing trust of buyers and investors.
According to the IMARC Group, India's real estate market is expected to grow at a short-term rate of 9.2% annually by 2028. The market size is projected to increase from USD 0.33 trillion in 2024 to USD 1.04 trillion by 2029, with a compound annual growth rate (CAGR) of 25.60% during the forecast period. M3M Group is expected to maintain its strong and resilient presence in this expanding market.
In conclusion, M3M India, a leading real estate developer, has demonstrated remarkable growth and market strength in the first quarter of the financial year 2024-25. The company's sales increased by 37% year-on-year, driven by strong demand and significant financial backing from major banks. M3M's performance across different segments, including residential, commercial, and plotted development, has been impressive, with the plotted development segment registering a 300% year-on-year growth. The company's robust financial health, backed by strong support from financial institutions, has been crucial in strengthening its operations and market presence. As the Indian real estate market is expected to grow significantly in the coming years, M3M is well-positioned to maintain its strong and resilient presence in this expanding market.
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