Godrej Properties sales jump four-fold in June quarter to Rs 8,637 crore

Godrej Properties clocked a four-fold jump in consolidated net profit to Rs 520.05 crore year-on-year

Realty firm Godrej Properties on Wednesday reported an almost four-fold jump in sales bookings in the first quarter of the current financial year 2024-25 (FY25) to Rs 8,637 crore.

The company clocked a four-fold jump in consolidated net profit to Rs 520.05 crore (Year-on-Year), according to a regulatory filing. This is an impressive increase compared to Rs 124.94 crore in the year-ago period.

The company’s expenses fell to Rs 921.45 crore while income grew to Rs 1,699.48 during April-June period of FY25.

Godrej said it had recorded sales bookings worth Rs 2,254 crore during the same review period a year ago. This feat marks Godrej’s highest-ever quarterly sales for this round and its second-highest quarterly sales ever.

“The residential real estate sector in India has been strong over the past three years and we believe the sectoral tailwinds will continue over the next few years,” Godrej Properties Ltd Executive Chairperson Pirojsha Godrej said.

Overall, the company has set a sales bookings target of Rs 27,000 crore for the current financial year on account of its robust launch pipeline, strong balance sheet, and resilient demand.

In the last financial year (FY24), Godrej emerged as the largest listed real estate player by selling properties worth over Rs 22,000 crore.

It has a major presence in Delhi-NCR (National Capital Region), Mumbai Metropolitan Region (MMR), Pune and Bengaluru metropolitan regions. In a bid to expand its footprint, the company recently made a deal surrounding a 46-acre land in Indore for around Rs 200 crore.