Godrej Properties (GODREJPROP) Q3 24/25 earnings summary

Executive summary

• Achieved record booking value of ₹28,800 crore in CY2024, with 26.38 million sq ft sold and net profit reaching ₹1,489 crore, reflecting strong year-on-year growth across all key metrics.

• Raised ₹6,000 crore through the largest-ever QIP by an Indian real estate company, reducing net debt-to-equity to 0.23 and increasing net worth by over 50%.

• Delivered 18 million sq ft across seven cities in CY2024, with 16 new projects added and strong business development momentum.

• Maintained leadership in sustainability, receiving top GRESB rating and inclusion in S&P DJSI and FTSE Good Index.

• Board approved unaudited results for Q3 and 9M FY25, with statutory auditor's unmodified opinion.

Financial highlights

• Q3 FY25 booking value was ₹5,446 crore from 4 million sq ft, down 5% year-on-year but up 5% quarter-on-quarter; nine-month booking value up 48% to ₹19,281 crore.

• Q3 FY25 total income rose 133% to ₹1,222 crore, EBITDA up 85% to ₹280 crore, and net profit up 161% to ₹163 crore; nine-month net profit up 301% to ₹1,018 crore.

• Highest ever nine-month collections at ₹10,086 crore, up 50% year-on-year; net operating cash flow at ₹3,436 crore, up 99%.

• Consolidated revenue for Q3 FY25: ₹968.88 crore; nine months: ₹2,801.11 crore; consolidated profit after tax for Q3 FY25: ₹162.64 crore; nine months: ₹1,017.90 crore.

• Net debt reduced to ₹3,848 crore as of Dec 31, 2024, with net debt/equity at 0.23.

Outlook and guidance

• Achieved 71% of annual booking value guidance for FY25; confident of meeting and exceeding full-year guidance.

• Robust launch pipeline for Q4 across multiple cities, with expectations of strong sales and collections.

• Launch guidance for the year remains at ₹30,000 crore, with flexibility depending on regulatory approvals.