Godrej Properties Posts Record H1 Performance 

New Delhi / October 5, 2024: Godrej Properties Limited (GPL) announced it has achieved its highest ever Q2 and H1 performance on several critical operational parameters including bookings, collections, operating cash flow, and new business development, the statement said. 

The company achieved a strong performance in the second quarter of fiscal year 25, with booking value up 3% year-over-year to nearly INR 5,200 crore. This was driven by strong demand for new projects like Godrej Vrikshya and Godrej Woodside Estate. For the first half of the fiscal year, booking value grew over 89% to INR 13,800 crore, exceeding the company’s previous record. This growth was particularly strong in NCR, Bengaluru, and MMR, the statement added. 

Godrej Properties’ collections and operating cash flow (OCF) for the first half of fiscal year 25 significantly exceeded previous records. Collections reached INR 7,000 crore, up 62% year-over-year, while OCF reached INR 2,800 crore, up 200%. These strong results demonstrate the company’s robust financial performance and ability to generate cash flow. 

The company has added eight new projects to its portfolio in the first half of fiscal year 25, with a total estimated saleable area of 11 million square feet and an estimated booking value potential of INR 12,650 crore. This represents 63% of the company’s annual business development guidance for the fiscal year.

Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are delighted with the scale up we have achieved in the past couple of years. The sales bookings of over INR 13,800 crore in H1FY25 surpasses our annual bookings in FY23. We are pleased that this sales growth was on the back of both an improving project mix as well as strong volume growth of 89%. Importantly, our robust sales performance has translated into record collections growth of 62% to over INR 7,000 crore and Operational cash flow growth of over 200% to over INR 2,800 Crore in H1FY25. We’d like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties.

Our business development additions of Rs 12,650 crores in H1FY25 will ensure that we continue to have a strong launch pipeline not just for the current year but for years to come. This includes a number of projects at the prestigious Golf Course Road in Gurugram. We have also entered the market of Indore recently and are looking forward to our first launch in this city. We have built a deep understanding across the key real estate markets in India and are greatly excited by the potential the next several years offer for us to deliver sustained high-quality performance across all key operating metrics.”