Godrej Properties (GODREJPROP) Q2 25/26 earnings summary

Executive summary

• Achieved record Q2 and H1 net profit of INR 405 crore and INR 1,005 crore, up 21% and 18% year-on-year, respectively.

• Q2 FY26 booking value rose 64% YoY and 20% QoQ to INR 8,505 crore, with 4,522 homes sold over 7.14 million sq. ft.; H1 FY26 booking value up 13% YoY to INR 15,587 crore, marking record highs.

• Four key markets—Bangalore/Bengaluru, Mumbai/MMR, NCR, and Hyderabad—each contributed over INR 1,500 crore in Q2 booking value.

• Recognized as global sector leader in real estate by GRESB and ranked #1 in S&P Global Dow Jones Best in Class Index for 2025.

• Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, were approved by the Board and reviewed by statutory auditors, with an unmodified opinion.

Financial highlights

• Q2 FY26 total income increased 39% YoY to INR 1,867 crore; H1 FY26 total income up 16% YoY to INR 3,460 crore.

• Adjusted EBITDA for Q2 FY26 grew 91% YoY to INR 630 crore; H1 FY26 adjusted EBITDA up 32% YoY to INR 1,555 crore.

• Net profit after tax for Q2 FY26 rose 21% YoY to INR 405 crore; H1 FY26 net profit up 18% YoY to INR 1,005 crore.

• Q2 FY26 collections grew 2% YoY to INR 4,066 crore; H1 FY26 collections up 10% YoY to INR 7,736 crore.

• Consolidated H1 FY26 profit after tax was ₹1,001.39 crore, with revenue at ₹2,395.45 crore.

Outlook and guidance

• On track to meet or exceed FY26 guidance for booking value (INR 32,500 crore) and collections (INR 21,000 crore).

• Achieved 48% of annual booking value guidance and 37% of collection guidance for FY 2026 by H1.

• Confident of strong Q4 performance due to a heavy OC calendar and milestone-linked collections.

• 81% of annual business development guidance achieved in H1 FY26.

• No plans for equity raise before FY 2028.