Encouraged by a record number of sale bookings in the last fiscal year, Godrej Properties Ltd. has set a goal to boost its pre-sales by 10% in 2025-26, aiming for a total of Rs 32,500 crore as the demand for housing remains robust.
During the fiscal year 2024-25, Godrej Properties experienced a 31% increase in sale bookings, reaching an unprecedented Rs 29,444 crore, up from Rs 22,527 crore the year before.
In a conversation with PTI, Pirojsha Godrej, the Executive Chairperson of Godrej Properties, emphasized that housing demand remains strong despite ongoing global economic uncertainties.
“We have provided a conservative forecast of achieving sales bookings of Rs 32,500 crore for the current fiscal year, but we are hopeful of exceeding that figure,” he stated in the interview.
Pirojsha mentioned that the company had initially set a guidance of Rs 27,500 crore for the previous fiscal year, but surpassed that goal with pre-sales of approximately Rs 29,500 crore.
He noted that the company has inventory in ongoing construction projects and a strong pipeline of housing launches across major cities.
Godrej Properties is positioned to become the largest publicly listed real estate company in terms of sales bookings for the fiscal year 2024-25.
On Friday, the company announced a 19% drop in consolidated net profit to Rs 381.99 crore for the latest quarter ending in March, despite an increase in overall income.
The net profit for the same period last year was Rs 471.26 crore.
Total income surged to Rs 2,681.06 crore in the fourth quarter of the last fiscal year, compared to Rs 1,914.82 crore the previous year.
In the March quarter, the company’s tax expenses rose to nearly Rs 190 crore, and it reported a loss of Rs 35.36 crore in certain joint ventures. Nevertheless, Godrej Properties’ net profit saw a significant rise of 93%, reaching Rs 1,399.89 crore in 2024-25, compared to Rs 725.27 crore in the previous fiscal year.
Total income increased to Rs 6,967.05 crore last fiscal year from Rs 4,334.22 crore in 2023-24.
The board also approved plans to raise up to Rs 2,000 crore through the issuance of Non-Convertible Debentures, Bonds, and/or other debt securities via private placement, in one or multiple tranches.
Godrej Properties is among the top real estate developers in India, focusing on Group housing projects primarily in the Delhi-NCR, Mumbai Metropolitan Region, Pune, Bengaluru, and Hyderabad.
The company also has a presence in smaller cities for plotted development.
