Godrej Properties (GODREJPROP) Q4 24/25 earnings summary

Executive summary

• Achieved record-high booking value, collections, operating cash flows, and net profit in FY25, surpassing all previous years for any Indian real estate developer.

• Booking value for FY25 grew 31% year-on-year to INR 29,444 crore, with 25.73 million sq ft sold, the highest for any listed Indian developer.

• Q4 FY25 marked the highest ever quarterly booking value at INR 10,163 crore, with 3,703 homes sold over 7.52 million sq ft and collections of INR 6,961 crore.

• Promoters increased their stake through open market purchases, and the company received 32 awards in Q4 FY25.

• Audited standalone and consolidated financial results for FY25 were approved with an unmodified audit opinion by BSR & Co. LLP.

Financial highlights

• FY25 total income rose 57% year-on-year to INR 6,848 crore; consolidated total income was INR 11,463.47 crore, up from INR 6,787.01 crore; EBITDA up 65% to INR 1,970 crore; net profit up 93% to INR 1,400 crore.

• Q4 FY25 total income was INR 2,646 crore, up 36% year-on-year; EBITDA declined 2% to INR 634 crore; net profit declined 19% to INR 382 crore.

• Net operating cash flow for FY25 reached INR 7,484 crore, up 73% year-on-year; Q4 operating cash flow at INR 4,047 crore, up 559% quarter-on-quarter.

• Standalone profit after tax for FY25 was INR 1,011.01 crore; consolidated profit after tax was INR 1,389.23 crore.

• Net worth increased to INR 17,444.14 crore (standalone) and INR 17,312.46 crore (consolidated) as of March 31, 2025.

Outlook and guidance

• FY26 guidance: launch value INR 40,000 crore, booking value INR 32,500 crore, customer collections INR 21,000 crore, and business development booking value INR 20,000 crore.

• FY25 actuals exceeded guidance on all key metrics: launches (122%), booking value (109%), collections (114%), deliveries (123%), and business development (132%).

• Guidance includes buffers; management aims to outperform as in previous years.

• The company remains in compliance with SEBI requirements for large corporate borrowers and continues to focus on real estate development as its core segment.