Godrej Properties eyes record Rs 41,500 crore sales bookings, expects to beat FY27 guidance

New Delhi: Realty firm Godrej Properties' sales bookings is expected to rise 22 per cent this fiscal to a record Rs 41,500 crore, beating annual guidance on strong demand for its housing properties, according to its Chairperson Pirojsha Godrej.

In an interview with PTI, Pirojsha Godrej noted that consumer demand has been "quite strong" in the company's new as well as ongoing residential projects across all markets where it has a presence.

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Even for the overall real estate market, he said the housing demand has "held up" and is "quite steady" despite the West Asia crisis causing global economic uncertainties.

Pirojsha said the company was on track to meet annual guidance or exceed it across all key metrics, including sales bookings, launches, collection of funds from customers, deliveries of projects and land acquisition.

"In the second half of the financial year, we expect anywhere between Rs 22,500 crore and 25,000 crore of sales. Even the bottom end of that gets us to past guidance, and the top end would be a good guidance beat and would get us to 20 per cent year-on-year growth," he said.

In the last fiscal, Godrej Properties had sold properties worth Rs 34,171 crore, and the company set a pre-sales or sales bookings guidance of Rs 39,000 crore for the current 2026-2027 fiscal.

Already, the company's sales bookings rose 7 per cent to Rs 16,659 crore in the first six months of this fiscal, a 7 per cent increase from Rs 15,587 crore in the year-ago period.

"We are not seeing any of our own projects where we are disappointed with off-take or demand. I would say from a company perspective, demand has been quite strong," Pirojsha said.

The buoyancy in sales is reflected in sustenance sales (bookings in running projects) growing 83 per cent YoY (year-on-year) to Rs 5,054 crore in the September quarter, he highlighted.

Also Read: Godrej Properties sells over 1,000 apartments in Bengaluru for Rs 2,000 crore

On outlook, Pirojsha said, "I expect Q3 (October-December) to be the company's best ever quarter from a sales perspective because major launches are planned, like here in Mumbai, we have a project in Bandra, and in Golf Course Extension in Gurugram, we have something."

"We are quite hopeful that our Thane, Noida, Greater Noida projects also get launched and several others. So we have a huge pipeline."

Pirojsha said the company would continue to invest in construction of existing projects and land acquisition for future development from internal accruals, while generating free cash flow and 20 per cent return on equity.

Godrej Properties, the largest listed realty firm in terms of pre-sales, develops group housing projects in Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, Bengaluru and Hyderabad. It is offering housing plots across many states.

On Friday, Godrej Properties reported a 62 per cent decline in its consolidated net profit to Rs 154.15 crore for the quarter ended September, driven by higher expenses.

Its net profit stood at Rs 405.08 crore in the year-ago period.

Total income rose to Rs 2,571.73 crore in the second quarter of the current fiscal from Rs 1,950.05 crore in the corresponding period of the preceding financial year.

Total expenses surged to Rs 2,476.74 crore during the period under review compared to Rs 1,300.98 crore a year ago.

During the first half of this fiscal, the company's net profit declined 50 per cent to Rs 504 crore compared to Rs 1,005 crore in the year-ago period.

Total income grew to Rs 3,916.77 crore from Rs 3,570.39 crore in the corresponding quarter a year ago.

Godrej Properties has completed projects spanning more than 80 million sq ft since 2018.