Godrej Properties' Stellar Q2: Profit Boosts and Record Bookings

Realty firm Godrej Properties reported a five-fold increase in net profit to Rs 335.21 crore for the September quarter, driven by higher income. The company achieved record bookings, collections, and cash flows. With strong market demand and a robust launch schedule, Godrej aims to surpass its sales targets.

Godrej Properties, a prominent real estate developer, has reported a significant five-fold increase in its net profit, reaching Rs 335.21 crore for the quarter ending September. This financial leap is attributed to substantial income growth, as detailed in its latest regulatory filing released on Wednesday.

Pirojsha Godrej, Executive Chairperson of Godrej Properties Ltd, stated that the firm experienced its best second-quarter performance to date, witnessing remarkable growth in bookings, collections, and operational cash flows. The company reported an outstanding 125% growth in operating cash flow and an 89% increase in sales bookings during the first half of this fiscal year.

Strategically positioned with a robust launch pipeline and resilient market demand, Godrej Properties is set to exceed its Rs 27,000 crore bookings target for FY25, aiming for record-high deliveries and collections. Acknowledging sectoral growth trends, Pirojsha emphasized ongoing efforts to expand market share and enhance margins in India's residential real estate sector.

(With inputs from agencies.)