Godrej Properties Reports Strong Q3 FY26 Performance

Godrej Properties Limited (GPL), one of India’s leading real estate developers, has delivered yet another impressive quarter, reporting its highest-ever Q3 and nine-month bookings and profits. The company’s third-quarter results reflect strong demand, strategic launches, and operational resilience across its national portfolio.

For Q3 FY26, Godrej Properties achieved a booking value of INR 8,421 crore, up 55% year-on-year, while nine-month bookings stood at INR 24,008 crore, marking a 25% increase compared to the same period last year. These figures represent the highest-ever Q3 and nine-month bookings in the company’s history.

Robust Sales Across Markets

The Q3 performance was underpinned by the sale of 3,973 homes spanning 6.43 million sq. ft. Over nine months, GPL sold 12,726 homes across 19.74 million sq. ft., demonstrating strong consumer appetite and pricing momentum. This is the fourth consecutive quarter in which GPL delivered over INR 7,000 crore in bookings, highlighting consistent sales performance.

The Mumbai Metropolitan Region (MMR) led quarterly contributions with INR 3,239 crore, driven primarily by the Godrej Trilogy launch at Worli, which alone accounted for INR 1,742 crore in bookings. During Q3, 11 new projects and phases were launched across nine cities, reflecting a balanced and diversified growth strategy.

“The company has achieved a remarkable increase in scale over the past four years. Our sales growth is spread across all our markets and backed by both volume and pricing growth,” said Pirojsha Godrej, Executive Chairperson, Godrej Properties.

Collections and Cash Flow

Collections also showed strong growth, rising 40% year-on-year to INR 4,282 crore in Q3, while nine-month collections reached INR 12,018 crore, up 19% over the previous year. Operating cash flow for the quarter grew 73% to INR 1,062 crore, underscoring efficient liquidity management, though nine-month cash flow declined slightly by 7% to INR 3,199 crore due to higher construction outlays.

Direct construction spend increased 66% year-on-year over nine months, reflecting GPL’s focus on timely project execution and quality delivery.

Expansion Through New Projects

GPL continued its strong business development momentum by adding three new projects in Q3, with an estimated saleable area of 7.3 million sq. ft. and projected booking value of INR 8,400 crore. Across nine months, the company added 12 new projects, exceeding annual guidance with a projected booking value of INR 24,650 crore, achieving 123% of its target.

Project deliveries also contributed to operational success, with around 1.7 million sq. ft. of homes completed across three cities during Q3 FY26.

Operational and Sustainability Highlights

Beyond financial performance, Godrej Properties continued to strengthen its sustainability credentials. GPL was included in the CDP Leadership Index with an ‘A’ rating for 2025 and recognized as a supply chain leader in the Supplier Engagement Assessment. In December 2025, the company received validation from the Science Based Targets initiative (SBTi) for near-term, long-term, and net-zero goals.

The company also bagged 42 awards in Q3, further reinforcing its position as a premium, high-quality real estate player. Promoters increased their stake by 0.5% in FY26 year-to-date, reflecting confidence in GPL’s long-term growth story.

Strong Profit Growth

Financials for Q3 FY26 show EBITDA rising 21% to INR 338 crore, with net profit up 20% to INR 195 crore compared to Q3 FY25. Earnings per share stood at INR 6.48 versus INR 5.70 in the previous year.

For the nine-month period, total income grew 7% to INR 4,480 crore, EBITDA jumped 40% to INR 1,867 crore, and net profit increased 18% to INR 1,200 crore, with earnings per share at INR 39.85. This reflects sustained profitability across multiple markets, backed by strong sales and disciplined cost management.

Confidence in Future Growth

GPL’s robust balance sheet, strong launch pipeline, and resilient demand underpin the company’s confidence in surpassing its annual booking guidance of INR 32,500 crore for FY26. The QIP raised last year, combined with strong operating cash flow, allows continued investment in growth opportunities and project development.

“With a robust launch pipeline, strong balance sheet, and resilient demand, we are confident of ending FY26 as our best-ever year across all key operating metrics,” said Pirojsha Godrej.

Looking Ahead

Godrej Properties’ Q3 performance underscores its ability to scale operations while maintaining profitability. The company’s strategic launches, diversified portfolio, and disciplined financial management continue to strengthen its market position.

As the Indian real estate market recovers and demand remains strong for both residential and premium properties, Godrej Properties is well-positioned to deliver sustained growth, operational excellence, and shareholder value.