Godrej Properties Q1 Results: PAT soars 174% YoY to Rs 125 crore

MUMBAI: Godrej Properties, the real estate development arm of the Godrej Group, has recorded 174% on-year growth in net profit at Rs 125 crore for the quarter ended June on the back of 251% rise in total income at Rs 1,315 crores.

The company’s bookings during the quarter declined 11% to Rs 2,254 crore with 2.25 million sq ft sales.

The developer added four projects with a total estimated saleable area of 3.7 million sq ft and potential booking value of Rs 6,450 crore between April and July.


“While it was a muted start to the year from bookings perspective, Godrej Properties saw strong traction in deliveries, business development, cash collections, and earnings in the first quarter of 2023-24,” said Pirojsha Godrej, Executive Chairperson, Godrej Properties.

According to him, with a robust launch pipeline, strong balance sheet, and resilient demand, the company is on-track to achieve its bookings target of Rs 14,000 crore in FY24 while also achieving its highest ever deliveries and collections performance.

During the quarter, the company has delivered projects aggregating around 4.9 million sq ft. The company’s collections grew by 26% to Rs 1,954 crore in the June quarter, leading to net operating cash flow growth of 436% to Rs 118 crore. Ends