Godrej Properties’ booking value for the quarter stood at ₹8,651 crore, a growth of 22% from last year, while its collections rose by 18% from the year-ago period to ₹4,348 crore.
According to the company, this is the highest first quarter booking value that the company has achieved. It also added future sales potential worth ₹9,500 crore through portfolio additions during the quarter.
The company also stated that booking value worth ₹40,000 crore will be recognized in the P&L account by financial year 2028. The company is also expecting a 2x increase in the scale of booking value recognition by financial year 2028.
Between the second quarter of this financial year, and the fourth quarter of financial year 2028, Godrej Properties expects to deliver operating cash flow worth over ₹20,000 crore. The company also intends to become free cash flow positive by financial year 2028.
For the quarter gone by, Godrej Properties’ topline saw growth, but the operating picture continued to see losses.
Revenue for the quarter increased by 16% from last year for Godrej Properties to ₹506 crore from ₹435 crore earlier, while its net profit declined by 42% from last year to ₹350 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) was a loss of ₹285 crore, compared to a loss of ₹243 crore last year.
“We remain on track to deliver on bookings of over ₹39,000 crore and collections of ₹24,000 crore for the year, which will allow us to generate approximately ₹9,000 crore of operating cash flow, which in turn will allow us to continue to invest in sustainable growth. We will continue to seek to gain market share through outstanding design, timely delivery, and high-quality developments,” Pirojsha Godrej, Executive Chairperson of Godrej Properties was quoted as saying.
Shares of Godrej Properties are looking to recover from the lows of the day, currently trading 1.7% lower at ₹2,053.5. The stock is still up 2% so far for the year.
