Godrej Properties Ltd plans to launch real estate projects worth over ₹32,000 crore in the second half of FY27. Managing Director and CEO Gaurav Pandey announced the plan during the company’s September-quarter earnings call. The developer expects more launches in the coming quarters to support sales growth.
The company noted reduced profits for the quarter. Consolidated net profit fell 62% to ₹154 crore in the July–September quarter. It stood at ₹405 crore in the same period last year. Earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 72% to ₹171 crore from ₹614 crore.
Despite lower profits, Godrej Properties recorded growth in several business areas. Total income rose 38% year-on-year to ₹2,575 crore. Sales bookings reached around ₹8,000 crore during the second quarter. First-half bookings stood at ₹16,659 crore, up 7% from a year earlier. This marked the company’s highest-ever first-half booking value.
Sales from existing projects also supported its performance. Sustenance sales increased 83% year-on-year to ₹5,054 crore in the September quarter. Godrej Trilogy in Mumbai, Godrej Vanantara in Bengaluru and Godrej Samaris in Gurugram each recorded sales above ₹500 crore. Godrej Brooklyn Avenue in Hyderabad also crossed ₹500 crore in bookings after its launch near the end of the first quarter.
Customer collections continued to improve during the period. Godrej Properties collected ₹5,318 crore in the second quarter, up 31% year-on-year. First-half collections reached ₹9,666 crore, marking 25% annual growth. Operating cash flow stood at ₹1,584 crore in Q2. This represented a 33% annual increase and a 297% rise over the previous quarter.
The company achieved 43% of its annual booking guidance during the first half. It launched only about one-third of its planned projects during this period. Chairperson Pirojsha Godrej said the company expects to exceed its full-year guidance across key operating measures. A stronger launch schedule should support this performance in the coming months.
Godrej Properties will maintain strict return requirements for future land acquisitions. The company plans to pursue opportunities that meet its target internal rate of return of around 20%. It also aims for a bookings-to-net-profit margin of 15%.
The developer expects stronger project launches and sales in the second half of FY27. It targets collections of ₹15,000 crore and operating cash flow of ₹7,000 crore during this period. The company also considers FY28 important for its financial performance. It expects positive free cash flow and aims for a reported return on equity of 20%.
