Dailymirror.news,Mumbai, February 4, 2025: Godrej Properties Limited (GPL), a leading national real estate developer, has announced its financial results for the third quarter ending December 31, 2024.

Corporate Highlights: A Landmark Year in 2024

  • Record Sales Growth: Booking value surged 69% YoY to INR 28,800 crore, with 26.38 million sq. ft. sold, reflecting a 54% volume increase—the highest ever achieved by any listed Indian developer in a calendar year.
  • Robust Financial Performance: Collections rose 40% YoY to INR 14,779 crore, while operating cash flow grew 52% YoY to INR 6,043 crore.
  • Strong Deliveries: GPL delivered projects totaling ~18 million sq. ft. across 7 cities.
  • Expanding Portfolio: Added 16 new projects spanning 29.1 million sq. ft., with an estimated booking value of INR 36,250 crore.
  • Profit Growth: Net profit soared 124% YoY to INR 1,489 crore.

Sales Performance: Q3FY25 & 9MFY25

  • 9M FY25 Sales: Booking value jumped 48% YoY to INR 19,281 crore, with 18.21 million sq. ft. sold, marking the highest-ever 9M booking value and volume by GPL and any Indian real estate developer.
  • Q3 FY25 Sales: Booking value stood at INR 5,446 crore, covering 4.07 million sq. ft., reflecting a 5% QoQ growth, despite a 5% YoY dip.
  • Achievement of Annual Targets: GPL has already reached 71% of its annual booking target for FY25.
  • Regional Growth:
    • MMR: Booking value of INR 5,155 crore (104% YoY growth).
    • Bengaluru: Booking value of INR 4,807 crore (145% YoY growth).
  • Expansion Initiatives:
    • 7 new projects/phases launched across 4 cities in Q3.

Business Development Momentum

  • Q3 FY25: Added 4 new projects, covering 5.9 million sq. ft., with an estimated booking value of INR 10,800 crore.
  • 9M FY25: GPL surpassed its full-year target by acquiring 12 new projects totaling 16.9 million sq. ft., with an estimated booking value of INR 23,450 crore.

Other Key Highlights

  • Fundraising for Growth: Raised INR 6,000 crore in equity capital through India’s largest-ever real estate QIP.
  • Project Deliveries: Delivered 2.6 million sq. ft. across 2 cities in Q3, bringing the YTD total to 11.9 million sq. ft..

Pirojsha Godrej, Executive Chairperson, Godrej Properties Limited, stated:

“Godrej Properties has achieved a record-breaking 2024 with our highest-ever bookings, collections, operating cash flows, earnings, and deliveries. This marks the sixth consecutive quarter of bookings exceeding INR 5,000 crore, underscoring strong sectoral momentum in India’s residential real estate market. With an aggressive launch pipeline, a robust balance sheet, and resilient demand, we are well-positioned to surpass our booking target of INR 27,000 crore for FY25. Our focus remains on scaling operations through market share expansion and improved margins.”

Q3 FY25 vs. Q3 FY24:

  • Total Income: INR 1,222 crore (133% YoY growth)
  • EBITDA: INR 280 crore (85% YoY growth)
  • Net Profit: INR 163 crore (161% YoY growth)
  • EPS: INR 5.70 (up from INR 2.24)

9M FY25 vs. 9M FY24:

  • Total Income: INR 4,203 crore (74% YoY growth)
  • EBITDA: INR 1,336 crore (144% YoY growth)
  • Net Profit: INR 1,018 crore (301% YoY growth)
  • EPS: INR 36.29 (up from INR 9.14)

Godrej Properties continues its trajectory of rapid growth, reinforcing its position as a leader in India’s real estate sector through strong financials, strategic expansion, and sustained operational excellence.