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Godrej Properties remains confident of achieving or surpassing its FY26 pre-sales target of INR 32,500 crore, driven by sustained housing demand across major cities. Executive Chairperson Pirojsha Godrej said the firm met 48% of its annual target in the first half, with pre-sales rising 13% year-on-year to INR 15,587 crore. The company also reported a 21% increase in quarterly net profit to INR 402.99 crore and total income of INR 1,950.05 crore. A major Worli project with over INR 10,000 crore revenue potential is expected to boost results. Supported by strong cash flow and a INR 6,000 crore equity base, the firm remains focused on growth across key metros.
Godrej Properties has indicated optimism about achieving or even exceeding its pre-sales target of INR 32,500 crore for the ongoing financial year, supported by what it described as an "attractive" housing demand environment. Executive Chairperson Pirojsha Godrej stated that the company expected to meet its annual guidance across all key performance parameters, including sales bookings, customer collections, project deliveries, new launches, and land acquisitions. Advertisement
Reflecting on the company's second-quarter performance, Godrej observed that the overall real estate market continued to perform well, with demand remaining steady across major metropolitan regions. During the first half of the fiscal year, the company's pre-sales grew by 13 per cent to INR 15,587 crore, compared to INR 13,835 crore in the same period of the previous year. He mentioned that this achievement represented around 48 per cent of the full-year target and highlighted that the second half typically outperforms the first, instilling further confidence in achieving the goal.
In the previous financial year, the company's sales bookings stood at INR 29,444 crore, making it the largest listed real estate firm in terms of pre-sales. During the recent September quarter, for the first time, Godrej Properties recorded sales bookings exceeding INR 1,500 crore in each of the four major cities-Delhi-NCR, Mumbai Metropolitan Region, Bengaluru, and Hyderabad.
Pirojsha described the quarter's performance as "satisfying" and added that there were significant growth opportunities in the upcoming quarters. He revealed that the company planned to launch a major project in Worli, Mumbai, with an estimated revenue potential exceeding INR 10,000 crore, which would contribute to achieving or surpassing the annual sales target.
While collections from customers had experienced some slowdown due to construction delays arising from monsoon and environmental constraints, Godrej remained confident about meeting the collection target of INR 21,000 crore for the fiscal year. During the April-September period, the firm collected INR 7,736 crore, representing 37 per cent of the full-year target. He noted that a substantial number of project deliveries scheduled for the January-March quarter would help bridge the gap and support overall collection performance.
On the financial front, Godrej Properties reported a 21 per cent rise in consolidated net profit to INR 402.99 crore during the second quarter, compared with INR 333.79 crore in the corresponding period of the previous year. Total income increased to INR 1,950.05 crore during the July-September period, up from INR 1,346.54 crore in the same quarter of the preceding year.
Godrej mentioned that the company's equity capital of INR 6,000 crore raised through a qualified institutional placement last year, combined with steady operating cash flow, would enable continued investment in growth opportunities. The company continues to focus on its five primary markets- Delhi-NCR, Mumbai Metropolitan Region, Pune, Bengaluru, and Hyderabad, while also expanding its housing plot offerings across multiple Indian cities.
Godrej Properties' positive outlook reflects both the resilience of India's housing demand and the company's strong operational performance. With a robust project pipeline, steady financial growth, and a strengthened balance sheet through recent fund-raising, the developer appears well positioned to meet its sales and collection targets for the fiscal year. The firm's continued expansion across key urban markets underscores its strategic commitment to maintaining leadership in the country's residential real estate sector.
Source - PTI
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