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Revenue
₹435 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹915 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Godrej Properties delivered a solid Q1 FY26 with PAT of INR 600 crore (up 50% YoY) and EBITDA of INR 915 crore (up 18% YoY). Booking value was INR 7,082 crore, down 18% YoY but reflecting a 2-year CAGR of 77%. Collections grew 22% to INR 3,000 crore, while operating cash flow was INR 947 crore. Business development was strong, adding projects worth INR 11,400 crore in booking value, achieving 67% of the full-year guidance in Q1. Management remains confident of achieving the FY26 bookings target of INR 32,500 crore and a launch pipeline of INR 40,000 crore. Key risks include potential delays in approvals (e.g., Ashok Vihar project in Delhi) and any slowdown in demand due to macroeconomic factors.
Colored figures show movement against the previous available record.
Guidance to track
- Management reiterated confidence in achieving the full-year bookings guidance of INR 32,500 crore.
- Collections are expected to grow to INR 21,000 crore for the full year, supported by strong execution.
- The company plans to launch projects worth INR 40,000 crore in FY26, with INR 8,500 crore already launched in Q1.
- Management expects business development additions to be roughly in line with sales, funded by operating cash flow.
Risks flagged
- The Delhi project (Ashok Vihar) faces approval delays due to government and court issues; launch timeline uncertain.
- Multiple regulatory issues (e.g., NGT, ground rent in Bengaluru) could delay launches; management has built buffers but risks remain.
- While demand remains strong, any macroeconomic slowdown or IT sector weakness could impact sales, especially in Bengaluru.
Key quotes
- We have delivered our highest ever quarterly net profit of INR 600 crore in the first quarter, a growth of 50% year-on-year.
- We remain very confident of the guidance. Both on collections and deliveries quarter to quarter.
- I think we have enough and more to kind of sustain the growth for the next 18-24 months.
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