Godrej Properties on track to meet or exceed FY26 sales target: CEO

Business Standard

4 days ago

Godrej Properties is on track to meet or even exceed ₹32,500 crore sales bookings target for this fiscal as housing demand continues to be strong, its executive Chairperson Pirojsha Godrej said.
In an interview with PTI, he noted that the exuberance seen in the housing market post-COVID has calmed down, but the demand condition is still pretty strong. In the first quarter of this fiscal, Godrej Properties Ltd reported an 18 per cent decline in its pre-sales or sales bookings to ₹7,082 crore.
Pirojsha attributed the decline in pre-sales to high base effect and also a slight delay in launch of couple of projects.
Nevertheless, he said, "We are very much on track to meet or exceed our booking value target for the current 2025-26 financial year".
The company's launch pipeline for this fiscal is quite heavy, which will help in meeting the pre-sales target of ₹32,500 crore easily, said Pirojsha.
Asked about the overall current housing market scenario considering global uncertainties, he said, "I think definitely, the kind of very exuberant market that was there may be a year ago has definitely settled down a little bit. But this is exactly what we would expect to see.".
In the first few years of upcycle, Pirojsha mentioned that there is always a huge pent-up demand and sharp price appreciations.
"But I would say demand conditions still very strong, but not that kind of frothy looking demand that you see sometimes. So, I would say things have calmed down a little bit, but remain very, very positive," he observed.
Many property consultants have reported a decline in the total housing sales across the top seven cities in the last two quarters.
Pirojsha highlighted that the company's balance sheet is very strong, enabling it to make investments in land acquisition and development of projects for ensuring targeted growth of the overall business.
During the last two financial years, Godrej Properties was the country's largest real estate firm in terms of sales bookings.
The company is likely to retain its top rank for the third consecutive fiscal year if it achieves the sales bookings target of Rs 32,500 crore.
During the 2024-25 fiscal year, the company's sales booking rose 31 per cent to a record ₹29,444 crore from ₹22,527 crore in the preceding year.
On the financial front, Godrej Properties recently reported a 15 per cent increase in its consolidated net profit to Rs 598.40 crore for the first quarter of this fiscal as against Rs 518.8 crore in the year-ago period.
Total income, however, fell to Rs 1,620.34 crore in the April-June period of 2025-26 fiscal against Rs 1,699.48 crore in the corresponding period of the preceding year.
Godrej Properties' sales booking or pre-sales declined 18 per cent to Rs 7,082 crores during the April-June quarter from Rs 8,637 crore in the year-ago period.
The collection of funds from customers against bookings rose 22 per cent to Rs 3,670 crore during the April-June quarter.
Godrje Properties has a significant presence in Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Delhi-NCR and Hyderabad where it is developing group housing projects.
The company is doing residential plotted development projects in many tier II cities, like Indore and Panipat.
The Mumbai-based firm posted a net profit of Rs 1,389.23 crore on a total income of Rs 6,967.05 crore during the last financial year.