Godrej Properties Q2 Total Income Up 135%, Net Profit Surges 402%

New Delhi / October 23, 2024: New Delhi, October 23, 2024: Godrej Properties’ Q2 FY25 financial performance demonstrated significant growth compared to the same period in FY24. Total income increased by 135% to Rs 1,343 crore, EBITDA grew by 69% to Rs 282 crore, and net profit surged by 402% to Rs 335 crore. For the first half of FY25, total income grew by 58% to INR 2,981 crore, EBITDA increased by 167% to Rs 1,056 crore, and net profit surged by 345% to Rs 855 crore. These strong financial results highlight the company’s robust growth trajectory, a statement from the company said. 

Booking value increased by 3% year-over-year to Rs 5,198 crore, driven by sales of 5.15 million square feet. This marks the highest Q2 and H1 booking value achieved by the company. GPL has already reached 51% of its annual booking value guidance for FY25, showcasing strong market demand. Key new project launches like Godrej Vrikshya in NCR and Godrej Woodside Estate in MMR contributed significantly to the company’s success. GPL’s bookings in NCR, Bengaluru, and MMR have seen substantial growth in the first half of FY25, the statement added. 

Godrej Properties’ collections reached Rs 4,005 crore in Q2 FY25, a 68% year-over-year increase. For the first half of FY25, collections totaled Rs 7,017 crore, representing a 62% growth. Additionally, operational cash flow for Q2 FY25 reached Rs 1,834 crore, up 126% year-over-year. This marks the highest Q2 and H1 collections and operational cash flow achieved by the company.

The company added 10 new projects with a total estimated saleable area of approximately 13.9 million square feet and an estimated booking value potential of Rs 17,450 crore. This includes six new projects added in Q2 with an expected booking value of Rs 9,650 crore and two additional projects with an expected booking value of Rs 4,800 crore added post-Q2. With these accomplishments, GPL has reached 87% of its annual guidance for business development.

The company delivered projects totaling approximately 6.6 million square feet across three cities in Q2 FY25, bringing the year-to-date total to approximately 9.3 million square feet. This represents the highest Q2 and H1 deliveries for GPL. Additionally, the company received 44 awards in Q2 FY25, including prestigious recognitions such as “Builder of the Year – Large Category” from Construction Times, “Value creator of the year” from Hurun India, and “India’s Top Builder” from Construction World Architect & Builder. Mr. Gaurav Pandey, MD & CEO of Godrej Properties, was also honored with the “Pride of India” award by Construction Week Awards.

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Commenting on the performance of Q2 FY2025, Pirojsha Godrej, Executive Chairperson, Godrej Properties Limited, said:

“Godrej Properties delivered a robust quarter with its highest ever Q2 and H1 bookings, collections, operating cashflows, and deliveries. With bookings growth of 56% in FY23, 84% in FY24 and 90% in H1 FY25, GPL has reset its scale. The benefit of this is clearly visible in our cash flows with collections growth of 68% and operating cash flow growth of 125% in Q2. With a robust launch pipeline, strong balance sheet, and resilient demand, we are on-track to significantly surpass our bookings target of INR 27,000 cores in FY25 while also achieving our highest ever deliveries and collections.

The sectoral tailwinds for the residential real estate sector in India will continue over the next few years and we remain focused on building scale through continued market share gains and margin expansion.” 

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