Shares of Godrej Properties Ltd were up over 2% on Monday, trading at ₹2,958.50 with an increase of ₹61.05. This upward movement comes on the back of the company’s impressive Q2 results for FY25, which showcased strong booking numbers and healthy demand for their real estate projects.
Q2 Highlights:
- Bookings of ₹5,200 Crore: Godrej Properties reported total bookings worth ₹5,200 crore for Q2 FY25, stemming from the sale of 5.1 million square feet of residential space. This surge in bookings was fueled by new project launches, particularly in the National Capital Region (NCR) and the Mumbai Metropolitan Region (MMR).
- Strong H1 Performance: For the first half of FY25, the real estate developer saw a massive 89% YoY growth in bookings, reaching ₹13,800 crore. This represents almost half of its full-year booking guidance and exceeds the total bookings achieved in FY23. The company sold 8,600 homes covering a total of 14 million square feet during this period.
- Key Projects Driving Growth: Among its standout projects for Q2:
- Godrej Vrikshya in NCR recorded bookings of over ₹1,500 crore.
- Godrej Woodside Estate in MMR, a plotted development, saw bookings of more than ₹600 crore.
- Collections Surge: The company’s collections during Q2 were 68% higher at ₹4,000 crore, while half-year collections stood at ₹7,000 crore, marking a 62% increase YoY. These collections represent 47% of Godrej Properties’ annual collection guidance for the fiscal year.
The strong performance in both sales and collections reflects the robust demand for Godrej Properties’ residential projects across major regions in India, with the company well on its way to achieving its fiscal year targets. Investors are keeping a close watch as the company continues to build on this momentum in the coming quarters.
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