Godrej Properties Sees Significant Growth in Q1 FY25 with 36% Increase in Net Profit
Godrej Properties, a leading real estate developer, has announced a 36% increase in its consolidated net profit for Q1 FY25, driven by significant growth in total income and booking value.
Godrej PropertiesReal EstateMumbaiNet ProfitQ1 Fy25Real Estate MumbaiJul 31, 2024
The company's total income has also witnessed a significant growth of 25% to Rs 1,638 crore in Q1 FY25, compared to Q1 FY24. This growth has been driven by the company's strong performance in the Indian real estate market.
On the back of this strong performance, the company's shares surged by more than 3% in trading hours, with the stock trading at Rs 3,223.00 per share on the National Stock Exchange. The company's market capitalization has also surpassed USD 10 billion for the first time, marking a significant milestone.
In Q1 FY25, Godrej Properties added two new projects, totaling approximately 31 lakh square feet of saleable area, with an estimated booking value of Rs 3,000 crore. These projects are situated in the Thanisandra suburb of Bengaluru and the Hinjawadi neighborhood of Pune.
The company's net debt increased to Rs 7,432 crore at the end of June 30, compared to Rs 6,198 crore at the end of the March quarter, due to ongoing projects.
Godrej Properties has outlined ambitious goals for FY25, including deliveries of 15 million square feet, a booking value of Rs 27,000 crore, cash collections of Rs 15,000 crore, and business development with an estimated booking value of Rs 15,000 crore.
In Q1 FY25, the company's booking value increased by a remarkable 283% to Rs 8,637 crore, with sales volume reaching an all-time high of 8.99 million square feet. This marks the highest quarterly volume ever sold by any listed developer in India.
Frequently Asked Questions
What is Godrej Properties' consolidated net profit for Q1 FY25?
Rs 520 crore, a 36% increase from the previous fiscal year.
What is the total income of Godrej Properties for Q1 FY25?
Rs 1,638 crore, a 25% increase from Q1 FY24.
What is the estimated booking value of the two new projects added by Godrej Properties in Q1 FY25?
Rs 3,000 crore.
What is Godrej Properties' goal for deliveries in FY25?
15 million square feet.
What is the company's goal for cash collections in FY25?
Rs 15,000 crore.
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