Godrej Properties climbs 5% on record bookings in Q4; tops FY25 guidance

Godrej Properties share price: Godrej Properties said it achieved 109 per cent of its annual guidance for booking value for FY25

Godrej Properties share price surged 4.5 per cent on the BSE in Tuesday's stock market session as the real estate company shared a robust sales update for the March 2025 quarter (Q4FY25). Clocking record bookings in the March quarter and the full financial year, Godrej Properties surpassed its annual guidance for booking value in FY25.

 

In a stock exchange filing, Godrej Properties said it achieved its highest-ever quarterly bookings in the recently concluded quarter. Q4FY25 booking value, the real estate developer said, were up 87 per cent quarter-on-quarter (Q-o-Q) and 7 per cent year-on-year (Y-o-Y) to ₹10,163 crore, driven by sale of 3,703 homes with a total area of 7.52 million square feet.

 

 

This is also the seventh consecutive quarter in which GPL has clocked bookings worth more than ₹5,000 crore.

 

Moreover, Godrej Properties also secured record full year bookings in FY25 as Booking value in the previous financial year grew 31 per cent Y-o-Y to ₹29,444 crore.

 

"This was achieved through the sale of 15,302 homes with a total area of 25.73 million sq. ft., a Y-o-Y volume growth of 29 per cent. This is the highest-ever full year booking value and volume announced by any real estate developer in India to date," Godrej Properties said.

 

Godrej Properties said it achieved 109 per cent of its annual guidance for booking value for FY25.

 

"We are delighted to have crossed ₹10,000 crore in sales bookings for the first time in Q4FY25. Our sales bookings over the last three years have compounded at an annual growth rate of 55 per cent. Through this, GPL has completely reset the scale of its operations and for the second consecutive year is the largest real estate developer in India by booking value," Gaurav Pandey, MD & CEO of Godrej Properties said in a statement.

 

Notably, Godrej Properties strong performance in Q4FY25 is in a stark contrast to its performance in the December quarter of FY25 (Q3FY25), where booking value for the quarter saw a 4.8-per cent Y-o-Y decline to ₹5,446 crore, primarily due to a decrease (6.2 per cent Y-o-Y) in the area sold, which totaled 4.1 million sq. ft.

 

Sales in Q4FY25, however, were driven by strong demand in several key new project launches, including Godrej Riverine in Noida, which achieved a booking value of over ₹2,000 crore, Godrej Astra in Gurugram, which achieved a booking value of over ₹1,000 crore, and Godrej Madison Avenue in Hyderabad, which achieved a booking value of over ₹1,000 crore.

 

NCR, Mumbai Metropolitan Region (MMR), and Bengaluru contributed more than ₹10,500 crore, ₹8,000 crore, and ₹5,000 crore, respectively, to the booking value in FY25.

 

The company's business development additions with a future booking value of ₹26,450 crore in FY25 will ensure that it continues to have a strong launch pipeline in the years ahead. Furthermore, the equity capital of ₹6,000 crore that the company raised through a QIP in December 2024, combined with the record operating cash flow it generated in FY25, will enable it to continue to invest for growth.

 

At 9:35 AM, Godrej Properties shares were ruling 3.8 per cent higher at ₹1,998.7 per share after hitting an intraday high of ₹2,051.3 per share. By comparison, the BSE Sensex index was quoting 1,036 points (1.4 per cent) higher at 74,174 level.

 

Godrej Properties stock hit a 52-week high of ₹3,400 on the BSE on July 16, 2024. It's 52-week low, on the other hand, stands at ₹1,869.5 per share, which it touched on April 7, 2025. Thus far in calendar year 2025, Godrej Properties shares have corrected 30.8 per cent on the BSE as against a 6.4-per cent drop in the benchmark BSE Sensex index.

 

Overall, in Q3FY25, Godrej Properties' consolidated revenue surged 193.2 per cent Y-o-Y to ₹969 crore, Ebitda climbed 84.7 per cent Y-o-Y to ₹280 crore, and reported net profit soared 152.2 per cent Y-o-Y to ₹158 crore, supported by lower interest expenses.

 

GPL's Ebitda margins, however, contracted by 1,700bps Y-o-Y to 28.9 per cent. Collections in Q3FY25, meanwhile, rose 27.3 per cent Y-o-Y to ₹3,069 crore, while net operating cashflow stood at ₹615 crore.

 

"Despite muted sales bookings in Q3FY25, Godrej Properties is well-positioned to capitalise on the strong demand in the premium and luxury segments, particularly its Golf Course Road project, aimed at delivering value, and Noida Project, expected to drive volume growth. The recent QIP of ₹6,000 crore has strengthened the company's balance sheet, providing a catalyst for future growth," said analysts at Geojit Financial Services in their post Q3 results review report.

 

Considering the strong correction in the stock price , we cautiously upgrade our rating on Godrej Properties stock to 'Hold' with a share price target of ₹2,153 based on 2.8x FY27E BVPS, it added.