Latest news with #GodrejProperties'
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Business Standard
3 days ago
- Business
- Business Standard
Godrej Properties' net debt jumps 42% to ₹4,637 cr in Q1 amid expansion
Realty firm Godrej Properties' net debt has risen 42 per cent in June quarter to ₹4,637 crore as the company looks to expand its business to meet strong housing demand. Its net debt stood at ₹3,269 crore at the end of last fiscal. According to its latest investors presentation, the company's debt to equity ration has risen to 0.26 from 0.19 but it is still at a very comfortable level. In a conference call with analysts, Godrej Properties MD and CEO Gaurav Pandey said, "From a debt perspective, we have laid out an absolute cap that we would like to look at for net debt of ₹10,000 crore. So, we do have a fair amount of room and even that would only take us to about 0.5 or a little bit above that range." He noted that there is more than enough sources of cash, both between operating cash flow and room to borrow a little bit in case there is any short-term need. "But I think the decider of exactly where debt ends this year will be how much beyond this ₹20,000 crore guidance, we are able to do on business development," Pandey said. In the last few years, Godrej Properties has been very aggressive in acquisition of land parcels to build group housing projects as well as plotted (residential) development. For the current 2025-26 financial year, the company has given a guidance that it will acquire multiple land parcels to build housing projects worth ₹20,000 crore. During the first quarter of this fiscal, Godrej Properties acquired five land parcels to build housing projects with revenue potential of ₹11,400 crore. The company acquired these five new land parcels in Mumbai, Pune, Bengaluru and Panipat. These acquisitions were through outright purchase and joint development agreements with land owners. Godrej Properties has maintained that it is on track to meet or even exceed ₹32,500 crore sales bookings target for this fiscal. During the 2024-25 fiscal, the company's sales booking rose 31 per cent to a record of ₹29,444 crore from ₹22,527 crore in the preceding year. In the first quarter of this fiscal, Godrej Properties reported an 18 per cent decline in its pre-sales or sales bookings to ₹7,082 crore. 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. On financial front, Godrej Properties recently reported a 15 per cent increase in its consolidated net profit to Rs 598.40 crore in 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. 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.
Mint
3 days ago
- Business
- Mint
Godrej Properties net debt rises 42 pc to ₹4,637 cr in Q1, debt-equity ratio at 0.26
New Delhi, Aug 17 (PTI) Realty firm Godrej Properties' net debt has risen 42 per cent in June quarter to ₹ 4,637 crore as the company looks to expand its business to meet strong housing demand. Its net debt stood at ₹ 3,269 crore at the end of last fiscal. According to its latest investors presentation, the company's debt to equity ration has risen to 0.26 from 0.19 but it is still at a very comfortable level. In a conference call with analysts, Godrej Properties MD and CEO Gaurav Pandey said, "From a debt perspective, we have laid out an absolute cap that we would like to look at for net debt of ₹ 10,000 crore. So, we do have a fair amount of room and even that would only take us to about 0.5 or a little bit above that range." He noted that there is more than enough sources of cash, both between operating cash flow and room to borrow a little bit in case there is any short-term need. "But I think the decider of exactly where debt ends this year will be how much beyond this ₹ 20,000 crore guidance, we are able to do on business development," Pandey said. In the last few years, Godrej Properties has been very aggressive in acquisition of land parcels to build group housing projects as well as plotted (residential) development. For the current 2025-26 financial year, the company has given a guidance that it will acquire multiple land parcels to build housing projects worth ₹ 20,000 crore. During the first quarter of this fiscal, Godrej Properties acquired five land parcels to build housing projects with revenue potential of ₹ 11,400 crore. The company acquired these five new land parcels in Mumbai, Pune, Bengaluru and Panipat. These acquisitions were through outright purchase and joint development agreements with land owners. Godrej Properties has maintained that it is on track to meet or even exceed ₹ 32,500 crore sales bookings target for this fiscal. During the 2024-25 fiscal, the company's sales booking rose 31 per cent to a record of ₹ 29,444 crore from ₹ 22,527 crore in the preceding year. In the first quarter of this fiscal, Godrej Properties reported an 18 per cent decline in its pre-sales or sales bookings to ₹ 7,082 crore. 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 ₹ 32,500 crore. On financial front, Godrej Properties recently reported a 15 per cent increase in its consolidated net profit to ₹ 598.40 crore in the first quarter of this fiscal as against ₹ 518.8 crore in the year-ago period. Total income, however, fell to ₹ 1,620.34 crore in the April-June period of 2025-26 fiscal against ₹ 1,699.48 crore in the corresponding period of the preceding year. The Mumbai-based firm posted a net profit of ₹ 1,389.23 crore on a total income of ₹ 6,967.05 crore during the last financial year.
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Business Standard
01-08-2025
- Business
- Business Standard
Godrej Properties Q1 profit grows 15% to ₹600 cr amid higher collections
Godrej Properties' profit for the first quarter of the financial year 2026 (Q1 FY26) grew by 15.4 per cent year-on-year (YoY) to Rs 600.12 crore, amid a 22 per cent growth in collections. The company's collections in Q1 FY26 stood at Rs 3,670 crore. However, the company's revenue (from operations) declined by 41.2 per cent to Rs 434.56 crore. Its total expenses during the quarter stood at Rs 732.58 crore, down 20.49 per cent YoY. Further, the company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at Rs 915 crore, up 18 per cent YoY. Pirojsha Godrej, Executive Chairperson, Godrej Properties, said, 'Godrej Properties delivered another solid quarter for bookings, cashflows, and earnings. The residential real estate sector in India has been strong over the past four years and we believe the sector will continue to provide opportunities in the next few years. Our business development additions since FY23, with a future booking value of over Rs 90,000 crore, provide us significant opportunities to scale our bookings and, in turn, our earnings. With a robust launch pipeline, strong balance sheet, and resilient demand, we are on track to achieve our guidance across all operating parameters.' Godrej's booking value in Q1 FY26 was Rs 7,082 crore, down 18 per cent YoY. It sold 4,231 homes with a total area of 6.17 million square feet. This is the eighth consecutive quarter in which the company has exceeded Rs 5,000 crore in booking value. 'Booking value in Q1 FY26 was driven by strong demand in several new project launches, including Godrej MSR City in Bengaluru, which achieved a booking value of Rs 2,426 crore, Godrej Majesty in Greater Noida, which achieved a booking value of Rs 925 crore, and Godrej Tiara in Bengaluru, which achieved a booking value of Rs 470 crore,' the company said. Bengaluru contributed more than Rs 3,000 crore to the company's total sales during the quarter, followed by MMR and NCR, both of which contributed more than Rs 1,600 crore. The company launched six new projects, including phase launches, during the quarter across four cities, with a total sales potential of Rs 8,500 crore. In Q1 FY26, the company added five new projects with a total estimated saleable area of approximately 9.24 million square feet and a total estimated booking value potential of Rs 11,400 crore. It has achieved 57 per cent of its FY26 annual guidance for business development in the first quarter.
Time of India
30-06-2025
- Business
- Time of India
Godrej Properties shares in focus after Rs 600 crore Panipat land deal
Shares of Godrej Properties are set to be in focus on Monday after the real estate developer acquired a 40-acre land parcel in Panipat, Haryana, for approximately Rs 600 crore, marking its eleventh new project announcement in FY25. The licensed land, with a potential developable area of 3 million square feet, was acquired amid a wave of renewed developer interest in India's Tier II cities . Two people aware of the matter told The Economic Times about the transaction. CBRE, which advised on the deal, declined to comment. This latest move underscores Godrej Properties' broader strategy to tap into the evolving real estate demand in emerging urban centres. Godrej Properties' latest acquisition reflects the growing appeal of Tier II cities, which are seeing increased traction from developers, corporates, financial institutions and investors. The surge in interest is being driven by the relatively low cost of land, ongoing infrastructure development, and robust housing demand. This has resulted in a rise in premium and luxury housing projects, both from established players and new entrants, as these cities emerge as the next hubs of growth and employment in India. The company has been particularly active in Haryana. In October 2024, the company emerged as the highest bidder for a luxury group housing plot on Golf Course Road in Gurugram with a revenue potential of Rs 5,500 crore. The acquisition was made via an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP). Earlier in FY24, the company had also acquired two parcels measuring 5.15 acres and 2.76 acres in the same micro-market, also via HSVP auctions. Live Events Stock performance and technical outlook Despite these aggressive expansion moves, shares of Godrej Properties have seen significant volatility. The stock has declined 26.4% over the past year and is down 16.6% in the last six months. However, it has rebounded 11% over the past three months and gained 5.5% in the past month. From a technical standpoint, the stock is trading below four of its eight key simple moving averages, including the 5-day, 10-day, 20-day, and 200-day SMAs, while holding above the 30-day, 50-day, 100-day, and 150-day SMAs. The Relative Strength Index (RSI) currently stands at 51.9, suggesting neutral momentum. The Moving Average Convergence Divergence (MACD) is at 43.0, remaining above its center line but below the signal line—indicating a potential shift in short-term momentum. Also read | Godrej Properties buys 40-acre land in Panipat for around Rs 600 crore ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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Business Standard
23-06-2025
- Business
- Business Standard
Godrej Properties sells homes worth ₹2,000 cr at Bengaluru project launch
Godrej Properties, the realty arm of Godrej Industries Group, has sold 1,450 homes worth Rs 2,000 crore at the launch of the first phase of its township project, Barca at the Godrej MSR City, in Devanahalli, Bengaluru. The Mumbai-based real estate developer sold homes with over 2.2 million square feet (msf) of area, making it the most successful launch ever in the North Bengaluru micro-market by both value and volume of sales, the company claimed. The phase was launched in April 2025. Godrej MSR City has a developable potential of 5.6 msf and has significant unlaunched inventory remaining, which the company plans to sell in the coming years. This is one of Godrej Properties' largest residential developments, the company noted. Gaurav Pandey, managing director and chief executive officer of Godrej Properties, said: 'We are delighted with the response to our project, Godrej MSR City. The strong demand reflects growing consumer preference for thoughtfully designed communities that offer a blend of lifestyle, connectivity, and long-term value. This success reaffirms our commitment to delivering high-quality developments that resonate with the aspirations of modern homebuyers. We would like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties.' Besides, in the past one year, Devanahalli has seen 212 new sales transactions with a gross sales value of Rs 133 crore, according to Square Yards Data Intelligence, a real estate data analytics platform. The property rate in the area is around Rs 18,056 per square foot (sq ft) as of the first quarter of the calendar year 2025 (Q1 CY25), against Rs 14,105 per sq ft in Q1 CY24. Earlier this month, the company announced that it will develop a premium residential project on a 14-acre land parcel in Hoskote, East Bengaluru, with an estimated revenue potential of Rs 1,500 crore.
