Godrej Prop Q3 Results: Deliveries still at 52% of guidance; on track to meet booking projection

Even business development by expected booking value has reached 56% of its full-year target of ₹15,000 crore at ₹8,425 crore.

Customer collections for the first nine months stood at ₹6,743 crore, which is 67% of its full-year guidance of ₹10,000 crore.

Godrej Properties reported a 76% jump in overall booking value to ₹5,720 crore for the December quarter. However, the area sold declined by 2% from last year to 4.34 million square feet.

Godrej Aristocrat, which the company launched during the quarter in Gurugram, turned out to be the must successful launch ever for the company in terms of value of sales achieved. The project, launched in December 2023 saw total sales of 1.35 million square feet for a booking value of ₹2,667 crore.

For the December quarter, the company reported a consolidated net profit of ₹62 crore, which is a growth of 5% from the same period last year. Revenue increased by 68% from last year to ₹330 crore from ₹196 crore year-on-year.

Net debt during the quarter has also gone up to ₹6,903 crore from ₹6,174 crore during the September quarter, with net debt-to-equity ratio rising to 0.72x from 0.65x earlier.

Shares of Godrej Properties are trading 0.4% higher at ₹2,331.7.