Godrej Properties profit down 19 pc in Jan-Mar to ₹382 cr; plans to raise up to ₹2K cr
Real estate firm Godrej Properties on May 2 reported a 19 per cent decline in its consolidated net profit to ₹381.99 crore for the latest March quarter
New Delhi, May 2 (PTI) Realty firm Godrej Properties on May 2 reported a 19 per cent decline in its consolidated net profit to ₹381.99 crore for the latest March quarter despite higher income and announced plans to raise debt up to ₹2,000 crore.
Its net profit stood at ₹471.26 crore in the year-ago period.
Total income increased to ₹2,681.06 crore in the fourth quarter of the last fiscal year from ₹1,914.82 crore in the corresponding period of the preceding year, according to a regulatory filing.
During the January-March quarter, the company's tax outgo rose to nearly ₹190 crore while it incurred a loss of ₹35.36 crore in some joint ventures.
However, Godrej Properties net profit rose 93 per cent to ₹1,399.89 crore during 2024-25 from ₹725.27 crore in the preceding fiscal.
Total income grew to ₹6,967.05 crore last fiscal from ₹4,334.22 crore in the 2023-24 fiscal.
The board also approved raising of up to ₹2,000 crore fund, by issue of Non-Convertible Debentures, Bonds, and/ or other debt securities on a private placement basis, in one or more tranches.
Commenting on the performance, Pirojsha Godrej, Executive Chairperson of Godrej Properties, said, the company "delivered a record-breaking financial year 2025 with its highest ever bookings, collections, operating cashflows, earnings and deliveries as well as a strong year for business development."
Godrej Properties sales bookings rose 31 per cent to a record ₹29,444 crore last fiscal from ₹22,527 crore in the preceding year. The company is set to become the largest listed real estate developer last fiscal in terms of sales bookings.
In market capitalisation, DLF is India's largest real estate company.
Pirojsha said this is the 8th consecutive year of booking value growth, indicating the resilience of the company to grow through various macroeconomic cycles.
"Our sales bookings over the last 3 years have compounded at an annual growth rate of 55 per cent. Through this, Godrej Properties has completely reset the scale of its operations and for the second consecutive year is the largest real estate developer in India by booking value," he highlighted.
Pirojsha noted that India's housing market has been strong over the past few years and believed the sectoral tailwinds to continue over the next few years.
"Our business development additions with a future booking value of ₹26,450 crore in 2024-25 will ensure that we continue to have a strong launch pipeline in the years ahead.
"Furthermore, the equity capital of ₹6,000 crore we raised through a QIP (Qualified Institutional Placement) in December 2024 combined with the record operating cash flow of ₹7,484 crore we generated in FY25 will enable us to continue to invest for growth," Pirojsha said.
In the next fiscal, he said the company has given a sales bookings guidance of over ₹32,500 crore through the launch of a large number of new projects combined with strong sustenance sales.
"This combined with strong construction progress will allow us to maintain rapid growth in operating cash flows as well. With a robust launch pipeline, strong balance sheet, and sectoral tailwinds, we are confident of continuing the momentum in FY26," Pirojsha said.
Godrej Properties is one of the leading real estate developers in the country.
