Godrej Properties reported net-profit of INR 333.79 crore in Q2-FY25, a significant rise from INR 72.54 crore in Q2-FY24. Total income grew 122.53% year-over-year to INR 1,346.54 crore. Booking-value for Q2 increased 3% YoY to INR 5,198 crore, with a record H1 booking-value of INR 13,835 crore. Strong demand was driven by projects in NCR, Bengaluru, and MMR, contributing to a 68% rise in collections. The company added 10 new-projects in FY25 with a potential booking value of INR 17,450 crore and delivered 6.6 million sq. ft. across 3 cities in Q2.
Godrej Properties (GPL) reported a significant rise in consolidated net profit for the second quarter of FY25, posting INR 333.79 crore, compared to INR 72.54 crore in Q2 FY24. The company's consolidated total income for Q2 FY25 stood at INR 1,346.54 crore, a remarkable 122.53% increase from INR 605.11 crore in the same quarter last year. Executive Chairperson Pirojsha Godrej highlighted the company's rapid scale-up, with booking growth of 56% in FY23, 84% in FY24, and 90% in the first half of FY25, driving improved cash flows. Collections grew by 68%, while operating cash flow rose 125% in Q2.
As of September 30, 2024, the company's net worth was INR 10,849.56 crore, with a gross debt-equity ratio of 1.25, a current liability ratio of 0.87, and total debts to total assets ratio at 0.32. The company achieved an operating margin of 7.24% and a net profit margin of 24.85%. During the same period, Godrej Properties granted 22,015 new stock options to eligible employees and issued 20,638 equity shares through stock grants.
The booking value in Q2 FY25 reached INR 5,198 crore, a 3% year-on-year growth, resulting from the sale of 5.15 million square feet of area. This marked a significant achievement, with 51% of the company's annual booking value target for FY25 already met. Collections for Q2 were strong, standing at INR 4,005 crore, reflecting a 68% year-on-year growth. For the first half of FY25, collections totaled INR 7,017 crore, up 62% from the same period last year.
In the first half of FY25, Godrej Properties reported its highest-ever booking values, with H1 booking value rising 90% year-over-year to INR 13,835 crore, and booking volumes growing 89% to 14.14 million square feet. Major contributions came from new projects, including Godrej Vrikshya in NCR, with a booking value of INR 1,493 crore, and Godrej Woodside Estate in MMR, contributing INR 610 crore.
Godrej Properties also expanded its portfolio with 10 new projects year-to-date in FY25, adding a total estimated saleable area of 13.9 million square feet. These projects are expected to generate a total booking value of INR 17,450 crore. Additionally, the company delivered 6.6 million square feet of projects in Q2, bringing the year-to-date total to 9.3 million square feet, its highest-ever Q2 and H1 deliveries.
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