Godrej Properties Reports Record Bookings of Rs 5,200 Crore in Q2 FY25

Godrej Properties, a leading real estate developer, has reported strong bookings of Rs 5,200 crore in Q2 FY25, driven by the sale of 5.1 million square feet of residential properties in the National Capital Region (NCR) and the Mumbai Metropolitan Region

Godrej PropertiesReal EstateBookingsNcrMmrReal Estate MumbaiOct 07, 2024

Godrej Properties Reports Record Bookings of Rs 5,200 Crore in Q2 FY25

Real Estate Mumbai:Godrej Properties, a prominent name in the Indian real estate sector, is set to draw attention this Monday after reporting a robust Q2 FY25 with bookings totaling Rs 5,200 crore. The sales were largely fueled by the company's new launches in the National Capital Region (NCR) and the Mumbai Metropolitan Region (MMR), where a total of 5.1 million square feet of residential properties were sold.\n\nIn the first half of FY25, Godrej Properties saw a significant surge in bookings, recording a 89% year-on-year (YoY) increase to Rs 13,800 crore. This achievement represents nearly half of the company's full-year booking guidance and even surpasses its total bookings for FY23. During this period, the company successfully sold 8,600 homes covering 14 million square feet.\n\nOne of the standout projects in Q2 was Godrej Vrikshya in NCR, which saw bookings worth Rs 1,500 crore. Another notable project was the plotted development, Godrej Woodside Estate in MMR, which recorded over Rs 600 crore in bookings. The company's collections in the quarter were 68% higher at Rs 4,000 crore, and for the half-year, they were up 62% at Rs 7,000 crore, achieving 47% of its annual collection guidance for the fiscal year.\n\nGodrej Properties added eight new projects in FY25, contributing a total saleable area of 11 million square feet (msf) and a booking potential of Rs 12,650 crore. Six of these projects, accounting for Rs 9,650 crore in bookings, were launched in Q2 alone. With this, the company has already achieved 63% of its annual booking target.\n\nOperating cash flows for the quarter stood at Rs 1,800 crore, up 120% year-on-year, and for the half-year, they tripled to Rs 2,800 crore. Managing Director and CEO Gaurav Pandey highlighted that the project additions in the quarter ensure a robust pipeline of launches, not just for the current year but for years to come. The company has also recently entered the Indore market and is looking forward to its first launch in this city.\n\nDespite the stock closing down 5.56% on the BSE on Friday, Godrej Properties' shares have surged 45% in 2024 to date and 140% over the past two years. The company currently holds a market capitalization of Rs 80,574 crore.

Frequently Asked Questions

What were the total bookings for Godrej Properties in Q2 FY25?

Godrej Properties reported bookings of Rs 5,200 crore in Q2 FY25.

How much area of residential properties did Godrej Properties sell in Q2 FY25?

The company sold 5.1 million square feet of residential properties in Q2 FY25.

What was the year-on-year increase in bookings for Godrej Properties in the first half of FY25?

The bookings for the first half of FY25 surged 89% year-on-year (YoY) to Rs 13,800 crore.

How many new projects did Godrej Properties launch in FY25?

Godrej Properties added eight new projects in FY25, with a total saleable area of 11 million square feet.

What is the current market capitalization of Godrej Properties?

The company currently holds a market capitalization of Rs 80,574 crore.

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