Godrej Properties Anticipates Balanced Growth in FY25, Aims to Boost Business in Bengaluru and Pune
Real estate firm Godrej Properties' Executive Chairman Pirojsha Godrej announced to investors in a post-earnings call that the company anticipates balanced growth in its pre-sales bookings for FY25. Despite a 5% YoY decline in sales bookings, the company
Godrej PropertiesReal EstateFy25BengaluruPuneReal Estate PuneFeb 05, 2025
The company's Executive Chairman, Pirojsha Godrej, shared these insights during a post-earnings call with investors.
According to Godrej, the growth in pre-sales bookings has been more evenly distributed across all major target markets compared to the previous year.
Despite reports of slowing economic growth and a slowdown in affordable and mid-segment housing sales, Godrej Properties has not observed any significant sluggishness in its sales.
The company reported a 5% year-on-year (YoY) decline in its pre-sales bookings for the quarter ending December 31, 2024.
However, most brokerages have taken a positive view of these results, noting the increase in the company's revenues, bottom line, and customer collections.
The brokerages have also indicated that Godrej Properties is on track to meet its pre-booking guidance of Rs 27,000 crore for FY25.
The company has already surpassed its business development guidance of Rs 20,000 crore for the same period.
Pirojsha Godrej acknowledged that the company has been heavily reliant on bookings from the National Capital Region (NCR) market.
However, he stressed that Godrej Properties continues to engage in large-scale business development activities and launch plans in NCR, particularly in Gurugram and Noida.
The company has seen significant sales bookings in various markets, including its core Mumbai metropolitan region, as well as in Bengaluru and Pune.
Godrej expressed a desire for better performance in the Bengaluru market, which, along with Pune, is a key focus area for the company.
For the upcoming quarter, the company has several launches lined up in Noida, Gurugram, Pune, Bengaluru, and Mumbai.
Additionally, Godrej Properties is planning to launch a plotted development project near Kolkata.
Regarding the long-delayed launch in the upmarket Worli neighborhood in southern Mumbai, the management mentioned that they are awaiting some necessary permissions.
They anticipate these permissions to be granted in March, with the project's launch expected in the next financial year.
Godrej Properties is a leading real estate developer in India, known for its commitment to quality and innovation in residential and commercial projects.
The company has a strong presence in major metropolitan cities and continues to expand its footprint across the country.
Frequently Asked Questions
What is the projected growth for Godrej Properties in FY25?
Godrej Properties projects balanced growth in pre-sales bookings for FY25, with a more even distribution of sales across major markets.
What is the reason behind the 5% YoY decline in sales bookings for the quarter ending December 31, 2024?
The 5% YoY decline in sales bookings is primarily attributed to launches that were not realized in the quarter, despite increases in revenues, bottom line, and customer collections.
Which cities are key focus areas for Godrej Properties in FY25?
Key focus areas for Godrej Properties in FY25 include Bengaluru, Pune, Noida, Gurugram, and Mumbai.
What is the status of the long-pending launch in the Worli neighborhood of Mumbai?
The launch in the Worli neighborhood is pending some necessary permissions, which are expected to be granted in March, with the project's launch anticipated in the next financial year.
What is the company's business development guidance for FY25?
Godrej Properties has already surpassed its business development guidance of Rs 20,000 crore for FY25.
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