Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the second quarter ended September 30, 2024.
Booking value in Q2FY25 grew 3% YoY to INR 5,198 crore from sale the of 5.15 million sq. ft. of area. Booking value in H1FY25 grew 90% to INR 13,835 crores. Booking volumes in H1FY25 grew 89% to 14.14 million sq. ft. of area.
This is the highest ever Q2 and H1 booking value achieved by Godrej Properties. GPL has achieved 51% of its annual guidance for booking value for FY25. In the past 5 financial years, GPL has averaged 37% of its full-year bookings in the first half of the financial year.
Strong demand seen in some key new project launches like Godrej Vrikshya in NCR, which delivered a booking value of INR 1,493 crore and Godrej Woodside Estate in MMR, a plotted development project, which delivered a booking value of INR 610 crore
GPL’s bookings in NCR, Bengaluru & MMR in H1 FY25 grew 70% to INR 5,424 crore, 212% to INR 3,889 crore and 114% to INR 3,113 crore respectively. 7 new project and phase launches during the quarter across 4 cities.
Collection stood at INR 4,005 Crore for Q2 FY25, a YoY growth of 68% and INR 7,017 crore for H1FY25, a YoY growth of 62%. Operational cash flow stood at INR 1,834 crore for Q2 FY25, a YoY growth of 126% and INR 2,822 crore for H1FY25, a YoY growth of 204%.
This is the highest ever Q2 and H1 collections and operational cash flow achieved by Godrej Properties.
GPL has added 10 new projects in year-to-date FY25 with a total estimated saleable area of approximately 13.9 million sq. ft. and total estimated booking value potential of ~INR 17,450 Crore. This included 6 new projects with an expected booking value of INR 9,650 Crore in Q2 and 2 new projects with an expected booking value of INR 4,800 crores post-Q2. GPL has achieved 87% of its annual guidance for business development.
Delivered projects aggregating 6.6 million sq. ft. across 3 cities in Q2FY25 taking the year-to-date total to 9.3 million sq. ft. This is the highest Q2 and H1 deliveries for Godrej Properties Limited
