Godrej Properties Ltd. reported a significant rise in fiscal third-quarter earnings, with net profit soaring 161.19% year-over-year to Rs 162.64 crore, as published by Financial Express.
The company’s revenue from operations surged 193.21% to Rs 968.88 crore, compared to Rs 330.44 crore in the same period of the previous fiscal year.
The company also reported earnings before interest, taxes, depreciation, and amortization (EBITDA) of Rs 27.6 crore, reversing an EBITDA loss of Rs 41.5 crore from the prior year. Godrej Properties said it delivered record-high bookings, collections, operating cash flow, earnings, and property deliveries in calendar year 2024.
For the third quarter of fiscal 2025, total booking value stood at Rs 5,446 crore from the sale of 4.07 million square feet of real estate. While this marked a 5% quarter-on-quarter increase, it represented a 5% decline from the year-ago period. The company has now posted over Rs 5,000 crore in booking value for six consecutive quarters.
In the first nine months of FY25, the company reported a booking value of Rs 19,281 crore, reflecting a 48% increase. Sales volume rose 54% year-over-year to 18.21 million square feet, marking the highest nine-month booking value and area sold in its history. Godrej Properties has already achieved 71% of its full-year booking guidance for FY25.
During Q3FY25, the company added four new projects with an estimated saleable area of 5.9 million square feet and a potential booking value of Rs 10,800 crore. For the nine-month period, it added 12 new projects totaling approximately 16.9 million square feet, surpassing its full-year guidance of Rs 20,000 crore with an estimated booking value potential of Rs 23,450 crore.
The company highlighted that it has already achieved 71% of its annual booking guidance for FY25.
Pirojsha Godrej, executive chairperson of Godrej Properties, highlighted the company’s record-breaking performance in calendar year 2024. “The third quarter of FY25 marked our sixth consecutive quarter with bookings exceeding Rs 5,000 crore, demonstrating strong demand in India’s residential real estate sector,” he said in a statement.
“With a strong launch pipeline, robust balance sheet, and sustained market demand, we are on track to exceed our Rs 27,000 crore booking guidance for FY25 while also achieving record-high cash collections, deliveries, earnings, and operating cash flow.”
Godrej Properties remains focused on expanding its market share and improving margins as it continues to scale operations.