Godrej Properties Sees Staggering Growth in Q1 FY25: Profit Jumps to Rs 520 Crore
Godrej Properties has reported a more than four-fold jump in consolidated net profit to Rs 520.05 crore in Q1 FY25, with sales bookings increasing nearly four times to Rs 8,637 crore.
Godrej PropertiesQ1 Fy25Real EstateSales BookingsProfit GrowthReal Estate MumbaiJul 31, 2024
The total income of the company grew to Rs 1,699.48 crore during the April-June period of 2024-25, up from Rs 1,265.98 crore in the corresponding period of the previous year. The total expenses, on the other hand, fell to Rs 921.45 crore from Rs 1,121.89 crore during the same period.
On the operational front, Godrej Properties saw a significant increase in sales bookings, which jumped nearly four times to Rs 8,637 crore in the first quarter of this fiscal year. This is the company's highest-ever quarterly sales for the June quarter and its second highest quarterly sales ever.
Commenting on the performance, Godrej Properties Ltd Executive Chairperson Pirojsha Godrej said, 'Godrej Properties delivered another robust quarter registering a multi-fold growth in bookings, operating cashflows, and earnings.' He added that the residential real estate sector in India has been strong over the past three years and that the company believes the sectoral tailwinds will continue over the next few years.
Pirojsha expressed confidence that the company would achieve its sales bookings target of Rs 27,000 crore for the current fiscal year. He attributed the company's success to its strong balance sheet, resilient demand, and robust launch pipeline.
Godrej Properties has a major presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, and Bengaluru markets. In the previous financial year, the company emerged as the largest listed real estate firm in terms of sales bookings by selling properties worth over Rs 22,000 crore.
Godrej Properties is one of the leading real estate developers in India, with a presence in Delhi-NCR, MMR, Pune, and Bengaluru markets. The company has established itself as a major player in the Indian real estate industry, with a strong track record of delivering high-quality projects.
Frequently Asked Questions
What is the consolidated net profit of Godrej Properties in Q1 FY25?
Rs 520.05 crore
What is the growth rate of Godrej Properties' sales bookings in Q1 FY25?
Nearly four times
What is the total income of Godrej Properties in Q1 FY25?
Rs 1,699.48 crore
What is the sales bookings target of Godrej Properties for FY25?
Rs 27,000 crore
What is the major presence of Godrej Properties in terms of markets?
Delhi-NCR, MMR, Pune, and Bengaluru markets
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