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Revenue
₹739 Cr
verified against source
Revenue YoY
25%
reported change
EBITDA
₹774 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Godrej Properties delivered a stellar Q1 FY25, with booking value surging 283% YoY to INR 8,637 crore and PAT hitting a record INR 520 crore (up 316% YoY), aided by a commercial property revaluation. The standout launches—Godrej Woodscape (Bengaluru, INR 3,156 crore) and Godrej Jardinia (Noida, INR 2,370 crore)—drove the outperformance. Management maintained its FY25 booking guidance of INR 27,000 crore and collections guidance of INR 15,000 crore, expressing confidence in beating both. Business development remains robust with two new projects added in Q1 (INR 3,000 crore estimated booking value) and a strong pipeline for Q2. Key risks include potential approval delays in Mumbai/Pune due to elections and the ongoing delay in the Ashok Vihar launch (now expected by Q4 FY25). The company's focus on end-user-driven product design and low cost of sales provides a competitive edge.
Colored figures show movement against the previous available record.
Guidance to track
- Management is confident of meeting or exceeding the annual booking guidance of INR 27,000 crore, supported by a strong Q1 start and robust launch pipeline.
- Collections are expected to ramp up in H2, with average quarterly collections of INR 3,750 crore needed to meet the target. Q1 collections were INR 3,012 crore.
- Management expects Q2 to be another good quarter for business development additions, with a strong pipeline across top four markets.
- The Ashok Vihar project in NCR is delayed due to tree removal approvals, but management hopes to launch by Q4 FY25 if possible.
Risks flagged
- Upcoming elections in Maharashtra could delay project approvals in Mumbai and Pune, impacting launch timelines.
- The Ashok Vihar project in NCR is delayed due to tree removal court cases, with no clear timeline. Management now expects launch by Q4 FY25 at best.
- The sharp increase in booking volume (8.99 msf in Q1) raises questions about delivery pace. Management has invested in execution capabilities but risks remain.
- Godrej Reserve faces potential approval issues (though management says no notice received), and a 10-year-old Chandigarh project received a notice regarding OC revocation.
Key quotes
- GPL achieved its highest-ever net profit in the quarter of INR 520 crore.
- Booking value grew by 283% to INR 8,637 crore.
- Our 99% of last quarter was all front-ended sales, 1% because the tag of some project is OC, which gets access PLP.
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