New projects in the Hyderabad market, which is another very large residential real estate market in the country and Godrej properties are looking forward to marking there first launch in Hyderabad later this financial year. So, those additional geographic levers, we think, again give them a lot of confidence that we can see this kind of growth. Lastly, the market conditions that we are seeing remain very strong and we are quite optimistic that we are kind of mid-cycle now so that we will have another good year ahead
We have two projects completing this year in Bangalore, a project completing in Pune, a project completing in Golf Coast Road in Gurgaon. So, all of those will add very substantially to the stock of ready inventory we have on the commercial side and I expect it to be a very strong year from a leasing perspective. FY22 and FY23 had seen a big dip in leasing activity as the effects of the pandemic, work from home, concern about how ready people would be to come back to offices .
After that kind of booking value growth, the next thing is the customer cash collections because you will start constructing these projects at various construction milestones, the cash that customers who have booked, the cash that they owe you will start coming in. So, we expect to see very sharp growth in cash collections and therefore operating cash flow over these next couple of years, and that will help us continue to grow rapidly while maintaining our gearing level in this band .
