Godrej Properties Set to Surpass Rs 20,000 Crore Project Addition Target in FY25
Godrej Properties is likely to exceed its guidance of Rs 20,000 crore worth of project additions for business development in FY25, driven by a strong pipeline and robust operating cash flow.
Godrej PropertiesReal EstateProject AdditionsBusiness DevelopmentFy25Real EstateJul 31, 2024
In the financial year 2023-24, the developer had added 10 new projects with an estimated revenue potential of Rs 21,225 crore, 42% above the business development guidance of Rs 15,000 crore of estimated booking value provided for that year. The company's strong operating cash flow, which stood at Rs 1,000 crores in the first quarter, and the recent raising of Rs 1,275 crore through an issue of NCDs will support its growth plans.
Godrej Properties reported its highest-ever net profit of Rs 520 crores for the quarter ended June, a growth of 316% from a year ago. The company also recorded the highest ever sales volume reported by an Indian developer with 8.99 million sq ft, up 299%. The booking value for the quarter rose 283% to Rs 8,637 crores and collections grew 54% to Rs 3,012 crores.
The company plans to launch projects spread over 21.9 million sq ft area with an estimated booking value of around Rs 30,000 crore in this financial year. With a robust launch pipeline, strong balance sheet, and resilient demand, Godrej Properties is on-track to achieve its bookings target of Rs 27,000 crore in the current financial year.
Information Godrej Industries Group is a leading Indian conglomerate with interests in real estate, consumer goods, and industrial engineering. Godrej Properties is the group's real estate development arm and has established itself as a leading developer of residential, commercial, and township projects across India.
Godrej Properties, the real estate development arm of the Godrej Industries Group, is a leading developer of residential, commercial, and township projects across India. With a strong track record of delivering high-quality projects, the company has established itself as a trusted brand in the Indian real estate industry.
Frequently Asked Questions
What is Godrej Properties' project addition target for FY25?
Godrej Properties is likely to surpass its guidance of Rs 20,000 crore worth of project additions for business development in FY25.
What is the estimated booking value of the two group housing projects added in Pune and Bengaluru?
The estimated booking value of the two group housing projects added in Pune and Bengaluru is Rs 3,000 crores.
What is Godrej Properties' operating cash flow in the first quarter?
Godrej Properties' operating cash flow in the first quarter is Rs 1,000 crores.
What is the company's net profit for the quarter ended June?
Godrej Properties reported its highest-ever net profit of Rs 520 crores for the quarter ended June, a growth of 316% from a year ago.
What is the company's planned launch pipeline for this financial year?
Godrej Properties plans to launch projects spread over 21.9 million sq ft area with an estimated booking value of around Rs 30,000 crore in this financial year.
Related News Articles
Financial Stocks Show Promise, Real Estate Overvalued: Samir Arora
Samir Arora, Founder of Helios Capital, discusses the current market trends, highlighting the potential of certain financial stocks and the overvalued nature of real estate in major cities.
Sharad Pawar’s NCP Prepares for Maharashtra Assembly Elections
The Nationalist Congress Party (NCP) is gearing up for the upcoming Maharashtra assembly elections, scheduled for November 2023. The party, led by veteran politician Sharad Pawar, is strategizing to reclaim lost ground and secure a strong presence in the
Real Estate Resurgence: Top 26 Indian Firms Report Rs 35,000 Crore Sales in Q2
In a notable turnaround, India's top 26 real estate firms have collectively reported sales of Rs 35,000 crore in the second quarter of the financial year. Despite a slowdown earlier, these firms are showing strong signs of recovery and growth.
Jubin Nautiyal Buys Seaside 4 BHK Apartment in Mumbai’s Madh Island for ₹4.94 Crore
Mumbai real estate update: Popular playback singer Jubin Nautiyal has made a significant investment by purchasing a sea-facing 4 BHK apartment in the prestigious Raheja Exotica building located in Madh Island, Mumbai.
DOGE's Behest Could Lead to Closure of Numerous Federal Offices, Internal Records Show
Internal documents from the General Services Administration (GSA) reveal a potential large-scale closure of federal offices, following DOGE's directives. The move could affect dozens of locations and hundreds of federal employees.
Is Real Estate Set for a Bull Run? Analyzing Market Trends and Expert Insights
The real estate sector is showing promising signs of recovery, with experts like Ajay Bagga predicting significant growth. This article delves into the factors driving the market and what investors can expect in the coming years.