Godrej Properties Sets New Records with Q2 and H1 Bookings, Collections, and Operating Cash Flow
Godrej Properties, a leading national real estate developer, has achieved its highest ever Q2 and H1 performance in bookings, collections, and operating cash flow. The company continues to expand its footprint in key markets, demonstrating strong growth a
Godrej PropertiesReal EstateBookingsCollectionsOperating Cash FlowReal Estate PuneOct 07, 2024
Record-Breaking Bookings\nIn Q2 FY25, Godrej Properties achieved a booking value of nearly INR 5,200 crore, marking a 3% year-over-year (YoY) growth. This is the highest booking value ever recorded in a single quarter by the company. The total area sold in this quarter was over 5.1 million square feet.
For H1 FY25, the booking value surged 89% YoY, reaching over INR 13,800 crore. This was achieved through the sale of over 8,600 homes, spanning a total area of more than 14 million square feet. This is the highest H1 booking value in the company's history. Notably, GPL has already achieved 51% of its annual guidance for booking value for FY25, significantly higher than the average of 37% achieved in the first half of the past five financial years.
Key Project Launches\nThe strong performance in Q2 FY25 was driven by several key project launches. Notably, Godrej Vrikshya in the National Capital Region (NCR) delivered a booking value of nearly INR 1,500 crore, and Godrej Woodside Estate in the Mumbai Metropolitan Region (MMR) contributed more than INR 600 crore. These projects have been instrumental in driving the company's growth.
Regional Performance\nGodrej Properties has seen significant growth in key regions. In NCR, bookings grew 69% YoY to over INR 5,400 crore. In Bengaluru, the growth was more than 200% to over INR 3,800 crore, and in MMR, it was more than 100% to over INR 3,100 crore. These regional achievements highlight the company's strong market presence and customer trust.
Highest Q2 and H1 Collections and Operating Cash Flow\nIn Q2 FY25, Godrej Properties recorded collections of over INR 4,000 crore, representing a 68% YoY growth. For H1 FY25, collections stood at over INR 7,000 crore, a 62% YoY increase. This is the highest Q2 and H1 collections achieved by the company, and it has already met 47% of its annual guidance for collections for FY25.
Operating Cash Flow (OCF) also saw a significant boost. Q2 FY25 OCF grew by over 120% to INR 1,800 crore, and H1 FY25 OCF grew by over 200% to INR 2,800 crore. These record numbers reflect the company's financial strength and operational efficiency.
Business Development\nGodrej Properties has added 8 new projects in FY25 to date, with a total estimated saleable area of approximately 11 million square feet and a total estimated booking value potential of INR 12,650 crore. Six of these projects, launched in Q2, have an expected booking value of INR 9,650 crore. This robust business development ensures a strong launch pipeline for the current and future years, including projects in prestigious locations like Golf Course Road in Gurugram and the recent entry into the Indore market.
CEO's Perspective\nGaurav Pandey, MD & CEO of Godrej Properties, expressed his delight with the company's performance. 'We are thrilled with the scale up we have achieved in the past couple of years. The sales bookings of over INR 13,800 crore in H1 FY25 surpass our annual bookings in FY23, driven by both an improving project mix and strong volume growth of 89%,' he said.
Pandey also emphasized the importance of the company's robust sales performance, which has translated into record collections growth of 62% to over INR 7,000 crore and operational cash flow growth of over 200% to INR 2,800 crore in H1 FY25. 'We sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties.'
Looking ahead, Pandey noted, 'Our business development additions of INR 12,650 crore in H1 FY25 will ensure a strong launch pipeline for the current and future years. We are excited by the potential the next several years hold, and we are committed to delivering sustained high-quality performance across all key operating metrics.'
About Godrej Properties\nGodrej Properties is a leading national real estate developer known for its commitment to quality and customer satisfaction. With a strong presence in key markets across India, the company has built a deep understanding of the real estate landscape and is poised for continued growth and success.
Frequently Asked Questions
What are the key achievements of Godrej Properties in Q2 and H1 FY25?
Godrej Properties achieved its highest ever Q2 and H1 booking values, collections, and operating cash flow. Q2 FY25 bookings grew 3% YoY to INR 5,200 crore, while H1 FY25 bookings grew 89% YoY to INR 13,800 crore. Collections and operating cash flow also set new records, growing 68% and 120% in Q2, and 62% and 200% in H1, respectively.
Which projects contributed significantly to the Q2 FY25 performance?
The key projects that drove the Q2 FY25 performance were Godrej Vrikshya in NCR, which delivered a booking value of INR 1,500 crore, and Godrej Woodside Estate in MMR, which contributed more than INR 600 crore.
How did Godrej Properties perform in key regions like NCR, Bengaluru, and MMR?
Godrej Properties saw significant growth in key regions: NCR bookings grew 69% YoY to INR 5,400 crore, Bengaluru bookings grew more than 200% to INR 3,800 crore, and MMR bookings grew more than 100% to INR 3,100 crore.
What is Godrej Properties' strategy for business development?
Godrej Properties has added 8 new projects in FY25 with a total estimated saleable area of 11 million square feet and a booking value potential of INR 12,650 crore. This includes projects in prestigious locations like Golf Course Road in Gurugram and the recent entry into the Indore market, ensuring a strong launch pipeline for the current and future years.
What does the CEO of Godrej Properties say about the future outlook?
Gaurav Pandey, MD & CEO of Godrej Properties, expressed delight with the company's performance and emphasized the importance of sustained high-quality performance across all key operating metrics. He noted that the company's business development additions will ensure a strong launch pipeline and that they are excited by the potential the next several years hold.
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