Godrej Properties Ltd reported a 3% year-on-year (YoY) increase in sale-bookings to nearly INR 5,200 crore in Q2 FY25, the highest for the quarter. The firm sold over 5.1 million sq ft, driven by strong housing-demand. In the first half of FY25, Godrej achieved record-breaking sales of over INR 13,800 crore, surpassing its FY23 annual-sales. The company sold over 8,600 homes totaling 14 million sq ft. CEO Gaurav Pandey credited the growth to an improved project-mix and 89% volume growth, leading to record collections of INR 7,000 crore and operational cash flow growth of 200%.
Godrej Properties Ltd, one of India's leading real estate developers, has reported a significant growth in its sale bookings for the second quarter (July-September) of FY25, reflecting strong housing demand across key markets. The company's Q2 sale bookings increased by 3% year-on-year (YoY) to nearly INR 5,200 crore. This marks the highest-ever booking value for the second quarter in the company's history. The impressive performance was driven by the sale of over 5.1 million square feet of space during the period.
In a regulatory filing, Godrej Properties announced that it sold more than 8,600 homes with a combined area of over 14 million square feet during the first half of FY25. The company's total sales booking value for the first half (H1) of FY25 saw an astounding YoY growth of 89%, reaching over INR 13,800 crore. This surge in bookings surpassed the company's entire annual booking value for FY23, signaling a robust upward trend in demand for residential properties.
Gaurav Pandey, Managing Director and Chief Executive Officer of Godrej Properties, expressed satisfaction with the company's ongoing growth trajectory. He highlighted that the scale-up achieved over the past few years has positioned the company as a key player in India's real estate market. "The sales bookings of over INR 13,800 crore in H1 of FY25 exceed our annual bookings from FY23," Pandey stated, underlining the company's success in capitalizing on the growing demand for housing.
The company attributed its sales growth to an improved project mix, alongside strong volume growth, which surged by 89% YoY. This growth in volume and the better mix of projects led to record-high collections of over INR 7,000 crore in H1 FY25, representing a 62% increase compared to the previous year. In addition to sales, operational cash flow also experienced significant growth, rising over 200% to exceed INR 2,800 crore in the first half of FY25.
Godrej Properties continues to strengthen its position as one of the largest and most prominent real estate developers in India. It holds a significant presence in major metropolitan regions including Delhi-NCR, Mumbai Metropolitan Region, Pune, and Bengaluru. The company's leadership in the industry was further reinforced when it became the largest listed real estate firm in terms of sale bookings during the 2023-24 fiscal year.
With a focus on scaling operations and delivering high-quality residential projects, Godrej Properties remains poised for further growth, driven by favorable market conditions and its strategic expansion across key cities. The company's financial performance and operational achievements in the first half of FY25 highlight its leadership in the Indian real estate market.
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