In an interview with PTI, Godrej Properties Executive Chairperson Pirojsha Godrej noted that housing demand continues to be strong despite global economic uncertainties.
“We have given a conservative guidance of achieving a sales bookings of Rs 32,500 crore for the current fiscal. Hopefully, we will do better than that,” he told PTI.
Pirojsha said the company had given a guidance of Rs 27,500 crore for the last fiscal but it beat the target and did pre-sales of around Rs 29,500 crore.
He said the company has inventory in existing under-construction projects, besides strong launch pipeline of housing projects across major cities. Godrej Properties is likely to become the largest listed realty firm in terms of sales bookings for 2024-25. On Friday, the company reported 19 per cent decline in consolidated net profit to Rs 381.99 crore for the latest March quarter despite higher income.
Its net profit stood at Rs 471.26 crore in the year-ago period.
Total income increased to Rs 2,681.06 crore in the fourth quarter of the last fiscal year from Rs 1,914.82 crore a year ago.
During March quarter, the company’s tax outgo rose to nearly Rs 190 crore while it incurred a loss of Rs 35.36 crore in some joint ventures. However, Godrej Properties’ net profit rose 93 per cent to Rs 1,399.89 crore during 2024-25 from Rs 725.27 crore in the preceding fiscal.
Total income grew to Rs 6,967.05 crore last fiscal from Rs 4,334.22 crore in 2023-24.
The board also approved raising up to Rs 2,000 crore, by issue of Non-Convertible Debentures, Bonds, and/ or other debt securities on a private placement basis, in one or more tranches.
Godrej Properties is one of the leading real estate developers in the country. It develops Group housing projects mainly in Delhi-NCR, Mumbai Metropolitan Region, Pune, Bengaluru and Hyderabad.
It has presence in some smaller cities for plotted development.
