Godrej Properties reported a fivefold increase in Q2 net profit, reaching ₹335.2 crore, supported by a ₹105.62 crore deferred tax credit due to recent tax rate adjustments. Revenue from operations rose 3.2 times year-over-year to ₹1,093.2 crore. The company achieved sales worth ₹5,198 crore, a 3% increase, and collections surged 68% to ₹4,005 crore. With revenue recognized on delivered units, Godrej Properties delivered 6.6 million square feet across three cities in Q2.
Godrej expanded its portfolio, adding six projects in three cities with an estimated booking value of ₹9,650 crore, and launched seven new projects or phases in four cities. It achieved half of its FY25 booking target with ₹13,835 crore in sales and ₹7,017 crore in collections in the first half. The company expects FY25 bookings of ₹27,000 crore and collections of ₹15,000 crore, targeting 15 million square feet delivered by year-end, of which 9.3 million square feet has already been met.
Sales in Q2 were concentrated in the NCR and MMR regions, comprising over 72% of total sales. The board recently approved a ₹6,000 crore equity issuance, though Executive Chairman Pirojsha Godrej noted that equity funding may not be required in the near future, thanks to steady cash flow from sales. The company generated ₹1,834 crore in Q2 operating cash flow and reached 63% of its business development target for FY25, planning to bring 21.9 million square feet to market, half of which is underway.
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