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
Indexation Benefits Removed for Property Sale: What it Means for Investors
property sale, LTCG rate, real estate and gold, Union Budget, investment
Pune's Yerawada Metro Station Now Open to Commuters: A Boost to City's Infrastructure
The Yerawada Metro Station in Pune is now operational, marking a significant milestone in the city's metro rail project. This development is expected to enhance connectivity and transform the urban landscape.
Tragedy Strikes Ganesh Mandal Setup in Mumbai: Speeding BMW Claims One Life, Critically Injures Another
A speeding BMW ran over two volunteers setting up banners for a Ganesh mandal in Mulund, near Mumbai, killing one and critically injuring another. The driver, Shakti Alagh, was later arrested by Mulund police.
Godrej Properties and Macrotech Developers See Strong Sales Worth Over Rs 22,000 Crore in H1 FY23
The real estate market has shown significant growth in the post-pandemic period, with Godrej Properties and Macrotech Developers leading the pack. These companies have managed to sell properties worth over Rs 22,000 crore in the first half of the fiscal y
Live Market Updates: Your Daily Stock Queries Answered
Join our live daily calls to get answers to your stock market queries and stay updated with the latest market news. From real estate to automotive, we cover it all.
Impact of Maharashtra Election Results on Stock Markets
The Maharashtra election results are expected to have a significant impact on the stock markets, especially given the potential for increased political stability and harmony between the state and the central government.