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Revenue
₹969 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 a record calendar year 2024 with booking value of ₹28,800 crore (+69% YoY) and net profit of ₹1,489 crore (+124% YoY). Q3 FY25 booking value was ₹5,446 crore, down 5% YoY but up 5% QoQ, marking the sixth consecutive quarter above ₹5,000 crore. Nine-month booking value grew 48% to ₹19,281 crore, achieving 71% of FY25 guidance. Collections grew 50% YoY to ₹10,086 crore in nine months. Management remains confident of meeting full-year guidance, supported by a strong Q4 launch pipeline including Hyderabad and Noida projects. The company raised ₹6,000 crore via QIP, improving net debt-to-equity to 0.23. Key risk: potential slowdown in NCR market due to high base and regulatory delays.
Colored figures show movement against the previous available record.
Guidance to track
- Management is confident of meeting and exceeding the annual booking value guidance of ₹27,000 crore, with 71% already achieved in nine months.
- Year-to-date, 12 new projects added with estimated booking value potential of ₹23,450 crore, exceeding the annual guidance.
- Planned launches include Hyderabad, Noida Sector 44, Gurgaon Sohna Road, Bangalore (66-acre parcel), Pune Hinjewadi, Indore, Kolkata, and Mumbai (multiple projects).
- Management intends to keep net debt below ₹10,000 crore to manage risk, with current net debt-to-equity at 0.23 providing headroom.
Risks flagged
- NCR sales were flattish in nine months due to a high base from last year; management expects growth but at a lower percentage compared to other markets.
- Two planned Q3 launches slipped to Q4 due to approval timing; Worli launch remains uncertain (50/50 chance this year).
- Multiple developers planning large premium projects could lead to oversupply; management believes different customer segments mitigate risk.
- Management noted overall economic slowdown in India and global uncertainty, but expects interest rate cuts and government measures to support sentiment.
Key quotes
- Calendar year 2024 was a record-breaking year for Godrej Properties. Our booking value reached ₹28,800 crore, a year-on-year growth of 69%.
- We've seen six consecutive quarters of ₹5,000 crore plus sales. I think that's an industry record.
- Golf Course Road is a pure margin expansion play for us. We are not targeting a booking value play from Golf Course Road; we are looking more from a value-accretive and strong margin profile kind of play.
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