Godrej Properties Q2 revenue drops but booking value up 64 percent; company says on track to meet FY26 guidance

The company achieved 48% of its FY26 booking value

Real estate firm Godrej Properties reported a 64 percent increase in its booking value for the July-September quarter at Rs 8,505 crore, higher by 20 percent over the June quarter, while revenue declined by 32 percent on-year to Rs 740 crore, a company filing said on November 6. The consolidated net profit for the quarter increased by 20 percent on-year to Rs 405 crore.

The customer collections for the quarter increased marginally by 2 percent to Rs 4,066 crore. Area sold for the quarter increased by 39 percent on-year to 7.14 million square feet, with 4,522 homes sold, the company said.

For the first half of the year, Godrej Properties' booking value reached Rs 15,587 crore. In an investor presentation, the company said it is on track to meet its FY26 booking value guidance of Rs 32,500 crore.

In terms of business development, the company added four projects worth Rs 4,850 crore, taking the gross development value of projects added in the first half of the ongoing fiscal to Rs 16,250 crore, representing 81 percent of the annual guidance of Rs 20,000 crore. The net debt as on September 30 inched up to Rs 5,565 crore.

"Our quarterly bookings in Q2 is higher than our annual bookings of FY22. We are pleased that this sales growth is spread across the markets we are operating in and was on the back of strong volumes and pricing. The equity capital of Rs 6,000 crore we raised through a QIP last year combined with the operating cash flow we are generating will enable us to continue to invest for growth," said Pirojsha Godrej, executive chairperson of Godrej Properties.

At 1:26pm, shares of Godrej Properties traded 2.6 percent lower on the National Stock Exchange at Rs 2,232.10 apiece.