Godrej Properties to launch housing projects worth ₹40,000 cr in FY26 to expand biz: Pirojsha Godrej
New Delhi, May 11 (PTI) Godrej Properties plans to launch housing projects worth ₹40,000 crore, as the company aims to increase market share and retain its position as the top listed real estate firm in terms of sales bookings.
In an interview with PTI, Godrej Properties Executive Chairperson Pirojsha Godrej noted that the housing demand continues to be strong despite global economic uncertainties, and cited the company's performance in the last fiscal, where it achieved record sales bookings of ₹29,444 crore, the highest among listed entities.
"So, overall, I am very happy with the company's performance in FY25, and I think, key is now to maintain this momentum in the current financial year," Pirojsha told PTI.
He said the company would continue to invest in land acquisition and development works to expand its business and increase market share.
"We raised ₹6,000 crore in October last year through QIP (Qualified Institutional Placement). That ₹6,000 crore plus ₹7,500 crore operating cash flow creates a pretty good war chest to ensure further investments and maintain this kind of strong growth rate," Pirojsha said.
Talking about the targets for the 2025-26 fiscal, he said, "We have guided for ₹32,500 crore worth of sales booking value for this fiscal, which is 20 per cent higher than our guidance of last year and 10 per cent higher than the actuals we delivered. Hopefully, if market support again, we can outperform the guidance".
"We have a good lineup of projects. We have guided for launches of 40,000 crore worth of projects. There is good visibility across the region," he added.
In the last fiscal, Pirojsha said, the company had given guidance of launching ₹30,000 crore worth of projects, but it ended up launching properties valuing ₹36,600 crore.
According to an investor's presentation, Godrej Properties launched 34 projects, either a new one or a new phase in existing projects, last fiscal with 292 lakh square feet of area and an estimated sales bookings value of ₹36,600 crore.
Pirojsha said the company would launch a project in Worli, Mumbai, in the first half of this fiscal and also hoped to launch its big-ticket project at Ashok Vihar in Delhi by March 2026.
These new launches and sales from ongoing projects would help the company to meet the targeted sales bookings of ₹32,500 crore for this fiscal.
During the 2024-25 fiscal, Godrej Properties sales bookings rose 31 per cent to a record ₹29,444 crore from ₹22,527 crore in the preceding year.
Pirojsha noted that these sales bookings were distributed across various regions and said it is a good sign that the company is not "overly reliant on any one region and one or two projects".
Pirojsha said the company's collections of funds from customers rose sharply to a record ₹17,047 crore last fiscal from ₹11,436 crore in the preceding year.
Strong collections helped in generating healthy operating cash flow for the company, he pointed out.
Pirojsha also mentioned that the company's market share increased to 4.3 per cent last fiscal.
In the presentation, the company cited PropEquity data, estimating the total market size of tier-I residential markets at ₹6.9 lakh crore in the last fiscal.
Based on PropEquity data, Godrej Properties' share was 4.3 per cent as it clocked sales bookings of ₹29,444 crore during 2024-25.
On financial performance, Godrej Properties recently reported that its consolidated net profit rose 93 per cent to ₹1,399.89 crore during 2024-25 from ₹725.27 crore in the preceding fiscal.
Its total income grew to ₹6,967.05 crore last fiscal compared to ₹4,334.22 crore in the 2023-24 fiscal.
The board also approved a proposal to raise up to ₹2,000 crore by issuing non-convertible debentures, bonds, and/ or other debt securities on a private placement basis, in one or more tranches.
Godrej Properties is one of the leading real estate developers in the country. It develops Group housing projects mainly in Delhi-NCR, Mumbai Metropolitan Region, Pune, Bengaluru and Hyderabad.
It has a presence in some smaller cities for plotted development.
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