Godrej Properties Q2 results: Company profit jumps 5-fold to ₹335.21 crore on higher revenue

Its net profit stood at ₹66.80 crore in the year-ago period.

Total income more than doubled to ₹1,346.54 crore in the second quarter of this fiscal from ₹605.11 crore in the corresponding period of the previous year, according to a regulatory filing.

Pirojsha Godrej, Executive Chairperson, Godrej Properties Ltd, said the company delivered a robust second quarter with its highest-ever Q2 and H1 bookings, collections, operating cashflows, and deliveries.

"With bookings growth of 56% in FY23, 84% in FY24 and 90% in H1 FY25, Godrej Properties has reset its scale," he added.

He also confirmed, the benefit of this is visible in the company's cash flows with collections growth of 68% and operating cash flow growth of 125% in the September quarter.

"With a robust launch pipeline, strong balance sheet, and resilient demand, we are on track to significantly surpass our bookings target of ₹27,000 crore in FY25 while also achieving our highest-ever deliveries and collections," he said.

Recently, the company reported that its sales booking increased 89% to over ₹13,800 crore during the April-September period of this fiscal.

The company has set a target of ₹27,500 crore worth of sales bookings in the current 2024-25 financial year as against ₹22,527 crore in the preceding year.

Pirojsha noted that the sectoral tailwinds for residential real estate in India will continue over the next few years.

"We remain focused on building scale through continued market share gains and margin expansion," he said.

Godrej Properties is one of the leading real estate developers in the country.