Latest news with #PirojshaGodrej
Mint
19 hours ago
- Business
- Mint
Godrej Properties, Prestige, DLF, Macrotech eye record residential sales in FY26
Bengaluru: India's four leading real estate developers—Godrej Properties, Prestige Estates, DLF, and Macrotech Developers—are collectively aiming to cross ₹ 1 trillion in residential sales in FY26, marking the strongest year yet for branded players. In FY25, the four developers clocked combined sales of around ₹ 85,190 crore. Residential sales in the top seven cities saw a slight fall in 2024 compared with 2023, against hopes they would touch a new peak. Rising home prices also slowed down sales in the January-March quarter. Sales dropped by 28% year-on-year to 93,280 units, and launches fell by 10% to 1,00,020 units during the March-ended quarter, as per Anarock Property Consultants data. This ambitious push for record residential sales this year comes on the back of a robust pipeline of project launches, existing inventory, and a focus on premium projects that fetch higher margins. Among the four realtors, Godrej Properties Ltd (GPL) has set the highest sales target of ₹ 32,500 crore this year. It sold 15,000 homes worth ₹ 29,444 crore last year, the highest ever by an Indian real estate firm. While real estate analysts have pegged GPL's FY26 sales guidance as conservative and cautious, Godrej Properties executive chairperson Pirojsha Godrej said the company has set a reasonable target and is confident of achieving it. 'For the better brands and strong real estate players like us, there is good demand. If we can execute well, there is nothing stopping us from increasing market share, and there is a huge growth opportunity in all the markets,' Godrej said in an interview earlier. Prestige Estates Projects Ltd, which fell short of its ₹ 20,000 crore target last year due to delays in project approvals, has set a higher goal of ₹ 27,000 crore for FY26. The Bengaluru-based firm recorded ₹ 17,023 crore in bookings last year, a 19% year-on-year decline. However, it expects a sharp bounce-back, aided by a ₹ 42,000 crore launch pipeline and unsold inventory worth ₹ 20,000 crore. 'The good news is the first quarter of FY26 itself will see sales of almost ₹ 12,000 crore, so the rest of the year should comfortably meet the remaining sales target,' said Prestige chairman and managing director Irfan Razack. DLF Ltd, the country's largest developer by market value, has guided for flat sales of ₹ 20,000-22,000 crore in FY26 after achieving ₹ 21,223 crore in FY25. Analysts believe the Gurugram-based developer's guidance is conservative. 'This is conservative given the backdrop of strong sustenance sales at 'Dahlias' and because 80% of the new inventory planned for FY26 is likely to be released in Q1FY26, aiding a high take rate for the full year,' said Rahul Jain, equity research analyst- real estate at Elara Securities. 'Overall, DLF is confident of sustaining strong operating cash surplus, aided by quarterly residential collections.' The DLF management in an analyst call on 20 May said that, along with good demand for luxury homes, it also has a strong launch pipeline of projects worth over ₹ 17,000 crore in the current fiscal year. Macrotech 'Lodha' Developers has guided for ₹ 21,000 crore sales in FY26, on the back of strong demand from home buyers demand, higher footfall and better conversions and pricing. It recorded xxxx sales in FY25, up/down xx% year-on-year. The Mumbai-based developer is viewed as a key beneficiary of industry consolidation, led by strong execution, key performance indicators and large-scale operations, an Elara Securities report said. While residential sales are expected to plateau this year, large, branded developers continue to clock strong sales and look set to tighten their grip on the market.
Time of India
19-05-2025
- Business
- Time of India
Godrej Properties expands land bank across India, taps Rs 26,500 crore potential through 14 land parcels
NEW DELHI: , one of India's prominent real estate developers, acquired 14 land parcels across major cities during the 2024–25 fiscal year, with a total development potential of approximately Rs 26,500 crore. Tired of too many ads? go ad free now These acquisitions span key urban markets, including the Mumbai Metropolitan Region (MMR), Pune, Delhi-NCR, Bengaluru, Kolkata, Ahmedabad, and Indore, according to the company's chairperson, Pirojsha Godrej. In an interview with PTI, Godrej said, "Last financial year, we added about Rs 26,500 crore worth of new projects, as against the guidance of Rs 20,000 crore. This fiscal, we are again giving guidance of Rs 20,000 crore. Quite likely, we will exceed this by a good margin." Godrej Properties is actively expanding its land bank through outright purchases and strategic partnerships with landowners, a growing trend among developers seeking scale and long-term value creation. The company's investor presentation outlines the specific acquisitions: three land parcels in Gurugram, two each in Greater Noida, MMR, Bengaluru, and Indore, and one each in Pune, Ahmedabad, and Kolkata. Notably, five in the Delhi-NCR region - three in Gurugram and two in Greater Noida - collectively hold a revenue potential of around Rs 14,000 crore, underlining the company's bullish outlook on this high-growth market. 'So overall, I am very happy with the company's performance in 2024–25, and I think the key now is to maintain this momentum in the current financial year,' Godrej added. Riding on strong market sentiment and operational execution, Godrej Properties plans to launch new housing projects worth Rs 40,000 crore in the current fiscal year. This comes on the back of exceeding last year's launch target of Rs 30,000 crore with actual launches totaling Rs 36,600 crore. Tired of too many ads? go ad free now For the 2025–26 fiscal, the company has set a of Rs 32,500 crore, a 20 per cent increase over last year's guidance and 10 per cent higher than the Rs 29,444 crore achieved in 2024–25. This marks a 31 per cent growth over Rs 22,527 crore booked in the previous year. On the financial front, Godrej Properties reported a consolidated net profit of Rs 1,399.89 crore for FY 2024–25, a sharp rise of 93 per cent from Rs 725.27 crore in the preceding year. Total income also surged to Rs 6,967.05 crore, up from Rs 4,334.22 crore in 2023–24.
Economic Times
19-05-2025
- Business
- Economic Times
Godrej Properties buys 14 land parcels in FY25 to build projects worth Rs 26,000 cr: Pirojsha Godrej
Godrej Properties has bought 14 land parcels across major cities to build housing projects. Godrej Properties has bought 14 land parcels across major cities to build housing projects with revenue potential of about Rs 26,500 crore in the last fiscal year and will continue to acquire more land to grow its business, its Chairperson Pirojsha Godrej said. The company bought these land parcels, all outright, in Mumbai Metropolitan Region (MMR), Pune, Delhi-NCR, Bengaluru, Kolkata, Ahmedabad and Indore. In an interview with PTI, Pirojsha Godrej said, "Last financial year, we added about Rs 26,500 crore worth of new projects, as against the guidance of Rs 20,000 crore. This fiscal, we are again giving guidance of Rs 20,000 crore. Quite likely, we will exceed this by a good margin". For business development, real estate developers are buying land outright and also partnering with landowners. 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. According to its investors' presentation, the company bought 3 land parcels in Gurugram and 2 each in Greater Noida, MMR, Bengaluru and Indore. It purchased one land parcel each in Pune, Ahmedabad and Kolkata. Godrej Properties is bullish on Delhi-NCR market as the company had bought five land parcels in Gurugram and Greater Noida, which could generate a revenue of Rs 14,000 crore. On last fiscal, Pirojsha Godrej said, "So, overall, I am very happy with the company's performance in 2024-25, and I think, key is now to maintain this momentum in the current financial year". He said the company plans to launch housing projects worth Rs 40,000 crore this fiscal year. In the last fiscal, Pirojsha said, the company had given guidance of launching Rs 30,000 crore worth of projects, but it ended up launching properties valuing Rs 36,600 crore. Talking about the pre-sales targets for the 2025-26 fiscal, he said, "We have guided for Rs 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". During the 2024-25 fiscal, Godrej Properties sales bookings rose 31 per cent to a record Rs 29,444 crore, from Rs 22,527 crore in the preceding year. On financial performance, Godrej Properties recently reported that its consolidated net profit rose 93 per cent to Rs 1,399.89 crore during 2024-25, from Rs 725.27 crore in the preceding fiscal. Its total income grew to Rs 6,967.05 crore last fiscal, compared to Rs 4,334.22 crore in the 2023-24 fiscal.
Hindustan Times
11-05-2025
- Business
- Hindustan Times
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.
Time of India
11-05-2025
- Business
- Time of India
Godrej Properties to launch housing projects worth Rs 40,000 cr in FY26, targets 20% growth in sales bookings
is set to launch residential projects worth Rs 40,000 crore in the financial year 2025-26 as part of its strategy to expand operations and boost its market share. The company aims to maintain its position as the top listed in terms of , according to Executive Chairperson Pirojsha Godrej. Tired of too many ads? go ad free now In an interview with PTI, Pirojsha said housing demand remains strong despite global economic uncertainties. The company recorded sales bookings of Rs 29,444 crore in FY25—its highest ever and the top among listed real estate firms. "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 said. He added that the company will continue investing in land acquisition and project development to fuel growth and strengthen its market presence. "We raised Rs 6,000 crore in October last year through QIP (Qualified Institutional Placement). That Rs 6,000 crore plus Rs 7,500 crore operating cash flow creates a pretty good war chest to ensure further investments and maintain this kind of strong growth rate," he explained. For , the company has set a sales bookings guidance of Rs 32,500 crore. "We have guided for Rs 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," Pirojsha said. "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 previous fiscal year, Godrej Properties had initially targeted launching Rs 30,000 crore worth of projects but ended up launching Rs 36,600 crore worth. According to its investor presentation, the company launched 34 projects—including new developments and phases—covering 292 lakh square feet and representing estimated sales bookings of Rs 36,600 crore. Tired of too many ads? go ad free now Pirojsha noted that a major project in Worli, Mumbai, is expected to launch in the first half of FY26, and the company also aims to launch its high-value project in Ashok Vihar, Delhi, by March 2026. The combination of new launches and ongoing project sales is expected to help the company meet its FY26 sales target. Sales bookings during FY25 grew 31 per cent year-on-year, rising from Rs 22,527 crore in FY24 to Rs 29,444 crore. Pirojsha highlighted that these bookings were geographically well-distributed. He said, "It is a good sign that the company is not 'overly reliant on any one region and one or two projects'." The company's collections from customers also surged to Rs 17,047 crore in FY25 from Rs 11,436 crore the previous year, supporting strong operating cash flows. Godrej Properties' market share rose to 4.3 per cent during the last fiscal. According to PropEquity data cited in the company's investor presentation, the overall tier-I residential market was valued at Rs 6.9 lakh crore in FY25. With sales bookings of Rs 29,444 crore, the company captured a 4.3 per cent share. On the financial front, the company's consolidated net profit jumped 93 per cent to Rs 1,399.89 crore in FY25 from Rs 725.27 crore the previous year. Total income rose to Rs 6,967.05 crore from Rs 4,334.22 crore in FY24. The board has approved raising up to Rs 2,000 crore through non-convertible debentures, bonds, or other debt securities via private placement, in one or more tranches. Godrej Properties is one of India's leading real estate developers, with a strong presence in major markets like Delhi-NCR, Mumbai Metropolitan Region, Pune, Bengaluru, and Hyderabad, and some plotted developments in smaller cities.
