Godrej Properties Marks Record Growth as Q3FY25 Net Profit Grows 161% YoY

Mumbai, February 4, 2025: Real estate developer Godrej Properties has delivered its highest ever bookings, collections, operating cash flow, earnings, and deliveries in a calendar year in 2024. The developer’s results for the third quarter of the financial year 2024-25 declare a net profit of INR 163 crores, a year-on-year (YoY) growth of 161 per cent and INR 1,018 crore in 9M FY25, a YoY growth of 301 per cent.

Commenting on the performance of Q3 FY2025, Executive Chairperson, of Godrej Properties Limited Pirojsha Godrej said: “Godrej Properties delivered a record-breaking calendar year 2024 with its highest ever bookings, collections, operating cashflows, earnings and deliveries. The third quarter of financial year 2025 was the 6th consecutive quarter of more than INR 5,000 crores bookings underlying the sectoral tailwinds for the residential real estate sector in India. With a robust launch pipeline, strong balance sheet, and resilient demand, we are on-track to surpass our bookings guidance of INR 27,000 cores in FY25 while also achieving our highest ever cash collections, deliveries, earnings and operating cash flow. We remain focused on building scale through continued market share gains and margin expansion.”

Highlights

• Booking value grew 69 per cent to INR 28,800 crore from the sale of 26.38 million sq. ft. of area, a volume growth of 54 per cent. This is the highest ever booking value achieved by any listed developer in India in a calendar year.
• Collections and operating cash flow was INR 14,779 Crore, a YoY growth of 40 per cent, and INR 6,043 crore, a YoY growth of 52 per cent, respectively
• Delivered projects aggregating ~18 million sq. ft. across 7 cities
• Added 16 new projects with an estimated saleable area of 29.1 million sq. ft. and expected booking value of INR 36,250 crore
• Net profit grew by 124 per cent to INR 1,489 crore

Sales Highlights for Q3FY25 and 9MFY25

• Booking value in 9M FY25 grew 48 per cent to INR 19,281 crore from the sale of 18.21 million sq. ft. of area, a volume growth of 54 per cent. This is the highest ever 9M booking value and area sold achieved by Godrej Properties and the highest ever by any Indian Real estate developer.
• Booking value in Q3FY25 was INR 5,446 crore from the sale of 4.07 million sq. ft. of area, a decline of 5 per cent year-on-year and a growth of 5 per cent quarter-on-quarter. This is the 6th consecutive quarter in which GPL has delivered more than INR 5,000 crore of booking value
• GPL has achieved 71 per cent of its annual guidance for booking value for FY25
• MMR has achieved booking value of INR 5,155 crore, a YoY growth of 104 per cent, and Bengaluru has achieved booking value of INR 4,807 crore, a YoY growth of 145 per cent in 9M FY2025
• 7 new project and phase launches during the quarter across 4 cities
• Business development momentum continues
• Added 4 new projects with an estimated saleable area of 5.9 million sq. ft. and expected booking value of INR 10,800 crore in Q3FY25
• In 9M FY25, GPL added 12 new projects with a total estimated saleable area of approximately 16.9 million sq. ft. and total estimated booking value potential of INR 23,450 crore and have thereby surpassed the full year guidance of INR 20,000 crore.

Other Highlights

• Raised INR 6,000 crore of equity for growth capital through largest ever QIP by a real estate company in India in Q3FY25.
• Delivered projects aggregating ~2.6 million sq. ft. across 2 cities in Q3FY25 taking the year-to-date total to ~11.9 million sq. ft.

Financial Overview (Consolidated) Q3 FY25 performance overview compared with Q3 FY24

• Total Income grew by 133 per cent to INR 1,222 crore as compared to INR 524 crore
• EBITDA grew by 85 per cent to INR 280 crore as compared to INR 152 crore
• Net Profit grew by 161 per cent to INR 163 crore as compared to INR 62 crore
• EPS (not annualised) amounted to INR 5.70 as compared to INR 2.24

9M FY25 performance overview compared with 9M FY24

• Total Income grew by 74 per cen to INR 4,203 crore as compared to INR 2,410 crore
• EBITDA grew by 144 per cent to INR 1,336 crore as compared to INR 548 crore
• Net Profit grew by 301 per cent to INR 1,018 crore as compared to INR 254 crore
• EPS (not annualized) amounted to INR 36.29 as compared to INR 9.14