Godrej Properties Ltd., a leading real estate developer based in Mumbai, announced its June quarter results on Wednesday. The company remains confident in its ability to meet or exceed its financial year 2025 (FY25) guidance, as highlighted in their investor presentation.
Key Financial Highlights
– Net Profit: ₹520 crore
– Change: Increased from ₹125 crore in the same period last year
– Revenue: ₹739 crore
– Change: Declined by 21.1% year-on-year
– EBITDA: Loss of ₹125.7 crore
– Change: Narrowed from a loss of ₹149 crore in the previous year
Guidance vs Achievements
Godrej Properties has set ambitious targets for FY25:
– Booking Value: ₹27,000 crore
– Achieved So Far: 32%
– Cash Collections: ₹15,000 crore
– Achieved So Far: 20%
– Deliveries: 15 million square feet
– Achieved So Far: 18%
– Business Development: ₹20,000 crore
– Achieved So Far: 15%
Q1 Performance
– Area Sold: 8.99 million square feet
– Change: 10% growth from the March quarter and 299% growth from the same quarter last year
– Booking Value: ₹8,637 crore
– Change: 9% lower from the March quarter but 283% higher year-on-year
– Customer Collections: ₹3,012 crore
– Change: Increased by 54% from last year but 36% lower compared to the March quarter
New Projects
– New Additions: Two new projects
– Location: Pune and Hinjewadi
– Saleable Area: 3.1 million square feet
– Expected Booking Value: ₹3,000 crore
Stock Market Reaction
– Current Trading: Shares were trading 2.14% higher at ₹3,249.00 on NSE as of 1:50 PM
Summary Table
| Metric | Value |
|---|---|
| Net Profit | ₹520 crore |
| Net Profit Change | + ₹395 crore |
| Revenue | ₹739 crore |
| Revenue Change | -21.1% |
| EBITDA | -₹125.7 crore |
| EBITDA Change | Improvement from -₹149 crore |
| Area Sold | 8.99 million sq ft |
| Area Sold Growth | +10% (Qtr-on-Qtr), +299% (YoY) |
| Booking Value | ₹8,637 crore |
| Booking Value Change | -9% (Qtr-on-Qtr), +283% (YoY) |
| Customer Collections | ₹3,012 crore |
| Customer Collections Change | +54% (YoY), -36% (Qtr-on-Qtr) |
| New Projects | 2 new projects |
| Saleable Area (New Projects) | 3.1 million sq ft |
| Expected Booking Value (New Projects) | ₹3,000 crore |
Godrej Properties’ results show strong growth in several areas despite a decline in revenue and EBITDA. The company’s focus on meeting FY25 targets and its strategic additions of new projects underscore its commitment to growth and market expansion.
