Realty firm Godrej Properties expects its sales bookings to rise 22% year-on-year to a record ₹41,500 crore in the current financial year, surpassing its annual guidance of ₹39,000 crore on the back of strong demand for residential properties, Chairperson Pirojsha Godrej told PTI.
Pirojsha said consumer demand had remained strong across the company’s new and ongoing residential projects in all its markets. Housing demand across the broader real estate sector had also held steady despite global economic uncertainties arising from the West Asia crisis.
Sales bookings may exceed annual guidance
The company expects sales bookings of ₹22,500 crore to ₹25,000 crore in the second half of FY27. Even the lower end of this range would take it past its annual guidance, while the upper end would translate into around 20% year-on-year growth, Pirojsha said.
Godrej Properties recorded sales bookings of ₹34,171 crore in FY26. In the first half of the current fiscal, bookings increased 7% to ₹16,659 crore from ₹15,587 crore a year earlier.
The company’s sustenance sales, or bookings from ongoing projects, surged 83% year-on-year to ₹5,054 crore in the September quarter, reflecting continued demand for projects already under development.
Major launches expected to drive second-half growth
Pirojsha expects the October-December quarter to be the company’s best-ever quarter for sales, supported by several planned project launches.
These include a project in Bandra, Mumbai, and another in Golf Course Extension Road, Gurugram. The company is also hopeful of launching projects in Thane, Noida and Greater Noida, alongside other developments in its pipeline.
He said Godrej Properties remained on track to meet or exceed its guidance across key operating metrics, including launches, customer collections, project deliveries and land acquisition.
The company plans to fund construction of existing projects and acquire land for future development through internal accruals, while generating free cash flow and targeting a 20% return on equity.
Q2 net profit declines 62% amid higher expenses
Godrej Properties reported a 62% year-on-year decline in consolidated net profit to ₹154.15 crore for the September quarter, compared with ₹405.08 crore in the year-ago period.
Total income increased to ₹2,571.73 crore from ₹1,950.05 crore, while total expenses surged to ₹2,476.74 crore from ₹1,300.98 crore.
For the first half of FY27, net profit fell 50% to ₹504 crore from ₹1,005 crore a year earlier, while total income rose to ₹3,916.77 crore from ₹3,570.39 crore.
Godrej Properties develops residential projects across the Mumbai Metropolitan Region, Delhi-NCR, Pune, Bengaluru and Hyderabad, and has completed projects spanning more than 80 million square feet since 2018.