Godrej Properties gains as Q1 PAT zooms to Rs 520 cr

Godrej Properties added 1.74% to Rs 3,236 after the company reported its highest ever consolidated net profit of Rs 520.05 crore in Q1 FY25, steeply higher than Rs 124.94 crore posted in Q1 FY24.

On the other hand, revenue from operations declined 21.05% year on year to Rs 739 crore in Q1 FY25 from Rs 936.09 crore recorded in the same period a year ago.

Profit before tax (PBT) zoomed to Rs 716.23 crore in Q1 FY25 as against Rs 192.92 crore reported in Q1 FY24.

EBITDA surged to Rs 774 crore in the June quarter as compared with Rs 230 crore posted in Q1 FY24. EBITDA margin improved to 47.2% in Q1 FY25 as against 17.5% in Q1 FY24.

Collection stood at Rs 3,012 crore for Q1 FY25,registering a YoY growth of 54% leading to net operating cash flow growth of 737% YoY to Rs 988 crore. The company delivered 2.7 million square feet (sq ft) across 3 cities in Q1 FY25.

Booking value grows by 283% to Rs 8,637 crore in Q1FY25. It is GPLs highest ever quarterly sales for Q1 & its second highest quarterly sales ever.

The company recorded highest ever quarterly booking volume of 8.99 million sq. ft. in the June quarter, surpassing its previous best of 8.17 million sq. ft. in Q4 FY24.

Pirojsha Godrej, Executive Chairperson, Godrej Properties, said: Godrej Properties delivered another robust quarter registering a multi-fold growth in bookings, operating cashflows, and earnings. 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.

The significant levels of business development we have executed in previous years at favourable terms continue to allow us 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 bookings target of Rs 27,000 crore in FY25 while also achieving our highest ever deliveries and collections performance.

Meanwhile, the Mumbai-based real estate developer said that it has acquired an approximate 46-acre land parcel with an estimated saleable area of nearly 1.16 million square feet. The land is located just off Indore-Ujjain Road, a major upcoming corridor of Indore, that is slated to be widened to a 6-lane highway and an important residential and commercial area in the city.

Godrej Properties is the real estate arm of the Godrej Group. It is subsidiary of Godrej Industries, which holds 58.48% of the company's equity shares as on 30 June 2024. The company currently operates in various cities and focuses on residential, commercial, and township development.

Powered by Capital Market - Live News