Godrej Properties Reports Robust Rs 5,200 Crore Bookings in Q2 FY25
Godrej Properties shares are in the limelight after the company reported impressive bookings of Rs 5,200 crore in the second quarter of FY25. The robust sales were driven by strong demand from new project launches in the National Capital Region (NCR) and
Godrej PropertiesReal EstateBookingsNational Capital RegionMumbai Metropolitan RegionReal Estate MumbaiOct 07, 2024
In the first half of FY25, Godrej Properties' bookings saw a remarkable surge of 89% year-on-year (YoY) to Rs 13,800 crore. This impressive performance represents nearly half of its full-year booking guidance and even surpasses its total bookings for FY23. During this period, the company successfully sold 8,600 homes, covering an impressive 14 million square feet.
Among the standout projects in Q2, Godrej Vrikshya in NCR recorded bookings worth Rs 1,500 crore, while the plotted development, Godrej Woodside Estate in MMR, saw bookings of over Rs 600 crore. These projects have been key drivers of the company's success.
Collections during the quarter were 68% higher at Rs 4,000 crore, bringing the half-year collections up by 62% to Rs 7,000 crore. With these achievements, the company has already reached 47% of its annual collection guidance for the fiscal year.
Godrej Properties has added eight new projects in FY25, with a total saleable area of 11 million square feet 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. This aggressive expansion has helped the company achieve 63% of its annual booking target.
Operating cash flows for the quarter stood at Rs 1,800 crore, a 120% increase year-on-year, while for the half-year, they tripled to Rs 2,800 crore. Managing Director and CEO Gaurav Pandey highlighted the significance of these new project additions, stating, “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 the city. On Friday, Godrej Properties' shares closed at Rs 2,897.7, down 5.56% on the BSE, while the benchmark Sensex fell 0.98%. Despite the drop, its shares have surged 45% in 2024 and 140% over the past two years. The company currently holds a market capitalization of Rs 80,574 crore.
Godrej Properties' strong performance is a testament to its strategic focus on high-demand regions and its ability to launch and execute projects efficiently. The company remains committed to delivering quality residential options and continues to be a key player in the Indian real estate market.
Frequently Asked Questions
What were the total bookings reported by Godrej Properties in Q2 FY25?
Godrej Properties reported total bookings of Rs 5,200 crore in Q2 FY25.
By how much did Godrej Properties' bookings increase in the first half of FY25 compared to the previous year?
Godrej Properties' bookings increased by 89% year-on-year (YoY) in the first half of FY25.
Which project in the NCR region recorded the highest bookings in Q2 FY25?
Godrej Vrikshya in NCR recorded the highest bookings of Rs 1,500 crore in Q2 FY25.
How many new projects did Godrej Properties launch in FY25, and what is their total saleable area?
Godrej Properties launched eight new projects in FY25, with a total saleable area of 11 million square feet.
What is the current market capitalization of Godrej Properties?
Godrej Properties currently holds a market capitalization of Rs 80,574 crore.
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