Latest news with #Pirojsha
Hindustan Times
2 days ago
- Business
- Hindustan Times
Godrej Properties balance sheet strong, to pursue good land-buying opportunities: Chairperson Pirojsha Godrej
New Delhi, Aug 10 (PTI) Godrej Properties acquired five land parcels in the April-June quarter to build housing projects with revenue potential of ₹11,400 crore and will continue to pursue attractive land-buying opportunities, according to a top company official. Godrej Properties bought five land parcels in Apr–Jun with ₹ 11,400 crore potential and plans to keep seeking attractive land deals, a top official said. (Representational Image) (Unsplash ) In an interview with PTI, Godrej Properties Executive Chairperson Pirojsha Godrej said, "We are quite active on the land front. I think anytime there is a good opportunity, of course, we want to pursue it." He highlighted that the company's balance sheet is very strong because of robust operational cash flows and also funds raised in December last year through Qualified Institutional Placement (QIP). "I think good thing is, with the QIP we did in December last year, company's balance sheet is very, very strong. So if there are good opportunities, we will go after them," Pirojsha said. Also Read: Godrej Properties on track to meet or exceed ₹32,500 cr pre-sales target for FY26: Pirojsha Godrej During the first quarter of this fiscal year, the company acquired five new land parcels in Mumbai, Pune, Bengaluru and Panipat. These acquisitions were through outright purchase and joint development agreements with land owners. On these five new land parcels, the company will build housing projects, which carry a total revenue potential of ₹11,400 crore. Pirojsha said the company will hopefully achieve the annual target of adding projects worth ₹20,000 crore in the second or third quarter of 2025-26 fiscal itself. For group housing projects, Godrej Properties is buying land primarily in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru and Hyderabad. However, the company is acquiring land in tier II cities for the development of residential plots. On sales, Pirojsha Godrej said the company is on track to meet or even exceed the ₹32,500 crore sales bookings target for this fiscal as housing demand continues to be strong. 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. Also Read: Godrej Properties acquires 14-acre land in Bengaluru for ₹1,500-crore housing project 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. Pirojsha attributed the decline in pre-sales to the high base effect and slight delay in the launch of a couple of projects. 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 the financial front, Godrej Properties recently reported a 15 per cent increase in its consolidated net profit to ₹598.40 crore for the first quarter of this fiscal 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.
Time of India
3 days ago
- Business
- Time of India
Godrej Properties balance sheet strong, to pursue good land-buying opportunities: Chairperson Pirojsha Godrej
Godrej Properties acquired five land parcels in the April-June quarter to build housing projects with revenue potential of Rs 11,400 crore and will continue to pursue attractive land-buying opportunities, according to a top company official. In an interview with PTI, Godrej Properties Executive Chairperson Pirojsha Godrej said, "We are quite active on the land front. I think anytime there is a good opportunity, of course, we want to pursue it." Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program He highlighted that the company's balance sheet is very strong because of robust operational cash flows and also funds raised in December last year through Qualified Institutional Placement (QIP). "I think good thing is, with the QIP we did in December last year, company's balance sheet is very, very strong. So if there are good opportunities, we will go after them," Pirojsha said. During the first quarter of this fiscal year, the company acquired five new land parcels in Mumbai , Pune, Bengaluru and Panipat. These acquisitions were through outright purchase and joint development agreements with land owners. Live Events On these five new land parcels, the company will build housing projects, which carry a total revenue potential of Rs 11,400 crore. Pirojsha said the company will hopefully achieve the annual target of adding projects worth Rs 20,000 crore in the second or third quarter of 2025-26 fiscal itself. For group housing projects, Godrej Properties is buying land primarily in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru and Hyderabad. However, the company is acquiring land in tier II cities for the development of residential plots. On sales, Pirojsha Godrej said the company is on track to meet or even exceed the Rs 32,500 crore sales bookings target for this fiscal as housing demand continues to be strong. During the 2024-25 fiscal year, the company's sales booking rose 31 per cent to a record Rs 29,444 crore from Rs 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 Rs 7,082 crore. Pirojsha attributed the decline in pre-sales to the high base effect and slight delay in the launch of a couple of projects. 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 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 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. Economic Times WhatsApp channel )
Hindustan Times
03-08-2025
- Business
- Hindustan Times
Godrej Properties on track to meet or exceed ₹32,500 cr pre-sales target for FY26: Pirojsha Godrej
New Delhi, Aug 3 (PTI) 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. Godrej Properties Executive Chairman Pirojsha Godrej said the exuberance seen in the housing market post-COVID has calmed down, but the demand condition is still pretty strong. (Mint File Photo ) 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. Also Read: Godrej Properties acquires 34-acre land in Vadodara for plotted housing, marks second project in Gujarat 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. Also Read: Godrej Air project: Home buyers protest delayed flats delivery 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. 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. Also Read: Housing demand pretty strong across major cities but euphoria mellowing down: Pirojsha Godrej Q1FY25 results On the financial front, Godrej Properties recently reported a 15 per cent increase in its consolidated net profit to ₹598.40 crore for 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. Godrej Properties' sales booking or pre-sales declined 18 per cent to ₹7,082 crores during the April-June quarter from ₹8,637 crore in the year-ago period. The collection of funds from customers against bookings rose 22 per cent to ₹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 ₹1,389.23 crore on a total income of ₹6,967.05 crore during the last financial year.
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Business Standard
03-08-2025
- Business
- Business Standard
Godrej Properties on track to meet or exceed FY26 sales target: CEO
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.
Economic Times
03-08-2025
- Business
- Economic Times
Godrej Properties on track to meet or exceed Rs 32,500 cr pre-sales target for FY26: Pirojsha Godrej
Agencies Godrej Properties Godrej Properties is on track to meet or even exceed Rs 32,500 crore sales bookings target for this fiscal as housing demand continues to be strong, its executive Chairperson Pirojsha Godrej 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 Rs 7,082 attributed the decline in pre-sales to high base effect and also a slight delay in launch of couple of 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 Rs 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 the 2024-25 fiscal year, the company's sales booking rose 31 per cent to a record Rs 29,444 crore from Rs 22,527 crore in the preceding 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 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 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.
