Godrej Properties Limited (GPL) is one of the leading real estate companies in India and the real estate development arm of the Godrej Group, which was started in 1897 and is today one of India's most successful conglomerates. Established in 1990, Godrej Properties is India's largest developer by number of homes sold in FY23. Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry.
The company operates in the residential, commercial and township development segments, with presence in over 12 cities across India. GPL's top products include residential apartments, villas, office spaces, retail spaces, and integrated townships. Its popular brands include Godrej Exquisite, Godrej Woodsman Estate, Godrej Nature Plus, Godrej Platinum, Godrej Golf Links, Godrej E-City, and Godrej Nest.
The company has delivered ~41 million sq. ft. of real estate since FY18. It has ~215 million sq. ft. of saleable area across India and works on an asset-light business model. GPL has successfully delivered over 50 million sq. ft. of residential and commercial spaces across India, and has a portfolio of over 95 million sq. ft. of ongoing and planned projects.
The company has built a strong reputation for quality and sustainability in the real estate sector. The company has bagged ~400 awards in the last 5 years. Its projects are certified by the Indian Green Building Council and have been awarded the LEED (Leadership in Energy and Environmental Design) Platinum rating.
The company's market capitalization stands at ₹69,398 crore as of the latest available data. Godrej Properties shares are listed on both NSE and BSE, with the listing date being January 5, 2010, and Pirojsha Godrej serving as the Chairperson.
For the quarter ended March 2025 (Q4 FY25), the company reported revenue of ₹2,121.73 crore and net profit of ₹378.44 crore. However, the company posted a net profit of ₹382 crore for Q4 FY25, marking a 19% year-on-year decline from the ₹471 crore recorded in the corresponding period last year. This fall in profitability occurred despite consolidated revenue from operations surging by a significant 48.77% YoY, climbing to ₹2,122 crore in the quarter ending March 2025.
For the full financial year 2025, Godrej Properties has reported net profit of Rs 1,400 crore (up 93% YoY) and total income of Rs 6,848 crore (up 57% YoY). The total booking value stood at ₹29,444 crore, and the company reported an annual net profit of ₹1,400 crore, the highest in its history.
- **Revenue Growth**: Operating income during FY24 rose 34.8% on a year-on-year basis.
- **Profitability**: Net profit for FY24 grew by 20.4% YoY, though net profit margins declined from 27.6% in FY23 to 24.6% in FY24.
- **Debt Management**: Debt to Equity ratio for FY24 stood at 0.3 as compared to 0.0 in FY23.
The company recorded its highest-ever quarterly booking value, totalling ₹10,163 crore in Q4 FY25, surpassing ₹10,000 crore in booking value for the first time. This marked the seventh straight quarter with bookings above ₹5,000 crore.
For the full year FY25, booking value grew by 29% to Rs 29,444 crore in FY25, compared to Rs 22,527 crore in FY24. The said growth was achieved through the sale of 15,302 homes with a total area of 25.73 million sq. ft., a YoY volume growth of 29%.
NCR, MMR & Bengaluru contributed more than Rs 10,500 crore, Rs 8,000 crore and Rs 5,000 crore respectively to the booking value in FY25. Regionally, bookings in NCR, Bengaluru, and MMR exhibited substantial growth in H1 FY25, with NCR bookings increasing by 69% to over ₹5,400 crore, Bengaluru bookings more than doubling (up by 200%) to over ₹3,800 crore, and MMR bookings rising by over 100% to ₹3,100 crore.
Godrej Properties has acquired 14 land parcels worth Rs 26,500 crore, aiming to launch projects worth Rs 40,000 crore this fiscal year. The company has made a strong start in business development for FY25, adding eight new projects that cover a total estimated saleable area of approximately 11 million sq. ft. with a total booking value potential of around ₹12,650 crore.
In FY26, the company plans to grow residential bookings to over Rs 32,500 crore through the launch of a large number of exciting new projects combined with strong sustenance sales. Despite a conservative FY26 presales growth guidance of 10%, the company has a strong pipeline of Rs 400 billion in planned launches and Rs 530 billion in unsold inventory, indicating potential for exceeding expectations.
Recent successful launches include Godrej Riverine in Noida, which achieved a booking value of over Rs 2,000 crore, Godrej Astra in Gurugram, which achieved a booking value of over Rs 1,000 crore, and Godrej Madison Avenue, in Hyderabad, which achieved a booking value of over Rs 1,000 crore.
The company raised equity capital of Rs 6,000 crore through a QIP in December 2024 combined with the record operating cash flow of Rs 7,484 crore generated in FY25, enabling continued investment for growth. The company's long-term rating for INR 2,500 crore bank facilities has been upgraded to [ICRA] AA (Stable), while the short-term rating has been reaffirmed at [ICRA]A1.
Godrej Properties continues to maintain its position as India's premier real estate developer, with strong financial performance, strategic land acquisitions, and a robust pipeline of upcoming projects positioned to capitalize on the growing demand in India's residential real estate market.
