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Revenue
₹343 Cr
verified against source
Revenue YoY
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reported change
EBITDA
Pending
latest reported figure
Source
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Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Godrej Properties reported its most successful quarter ever with new bookings of INR 5,034 crore, up 109% YoY, driven by strong launches like Tropical Isle in Noida (INR 2,000 crore) and Parkland Estate in Kurukshetra (INR 628 crore). Cash collections grew 23% YoY to INR 2,378 crore, and net operating cash flow was INR 811 crore. Management is confident of exceeding the annual booking guidance of INR 14,000 crore and achieving INR 10,000 crore in cash collections. The launch pipeline for H2 includes marquee projects like Ashok Vihar and Carmichael Road. Key risk: delays in regulatory approvals could push some launches beyond FY24, though management has built buffers.
Colored figures show movement against the previous available record.
Guidance to track
- Management is confident of surpassing the INR 14,000 crore booking value guidance for FY24, driven by a robust H2 launch pipeline.
- Cash collections guidance of INR 10,000 crore is on track, with H1 collections at INR 4,332 crore.
- Year-to-date business development stands at INR 7,175 crore, in line with the full-year guidance of INR 15,000 crore.
- Key launches include Ashok Vihar (Delhi), Carmichael Road (Mumbai), and Kandivali (Mumbai), targeted for Q3/Q4.
Risks flagged
- Ashok Vihar and other projects face approval uncertainties; any slippage could impact booking guidance achievement.
- Management has provided INR 155 crore for repairs and buybacks, but actual costs could be higher if more customers opt for buyback.
- News reports about promoter family settlement raised concerns; management downplayed impact but uncertainty remains.
- Despite strong bookings, operating cash flow improvement may lag if project execution faces delays.
Key quotes
- This quarter's booking figure is also nearly equal to our annual booking level three or four years ago.
- We are confident of exceeding our annual booking guidance of INR 14,000 crore.
- The most important objective going forward will be to get all of our recently added projects launched in the upcoming quarter.
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