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Godrej Properties Margin Trend — Quarter by Quarter

Godrej Properties's EBITDA margin moved from -16.0% in Q1 FY24 to -25.0% in Q1 FY25 across 3 quarters. Management commentary below explains the cost and pricing drivers mentioned on calls.

EBITDA Margin by Quarter

QuarterEBITDA Margin (%)YoY Change
Q1 FY25-25.0%—
Q4 FY249.0%—
Q1 FY24-16.0%—

What management said about ebitda margin

G

Q2 FY25 · Target EBITDA margin of 25-30%

Management reiterated their target of achieving 25-30% EBITDA margins on new projects, with underwriting based on current prices without assuming price inflation.

G

Q2 FY25 · Target net profit margin of ~15% through cycle

Management guided for a net profit margin of around 15% through the cycle, though it may be higher in the near term due to margin expansion.

G

Q1 FY24 · PAT margin target of 12-15%

Management aims for long-term PAT margins in the 12-15% range, translating to ~20% return on equity.