Godrej Properties has set a target to increase its pre-sales by 10% in 2025-26, aiming for Rs 32,500 crore as housing demand remains strong. This follows a remarkable 31% rise in sales bookings, which reached a record Rs 29,444 crore in 2024-25, up from Rs 22,527 crore the previous year.
Executive Chairperson Pirojsha Godrej highlighted that despite global economic uncertainties, the demand for housing continues to remain strong.
“We have given a conservative guidance of achieving a sales bookings of Rs 32,500 crore for the current fiscal. Hopefully, we will do better than that,” he said.
Pirojsha Godrej mentioned that the company had set a guidance of Rs 27,500 crore for the last fiscal year, but it exceeded expectations with pre-sales of approximately Rs 29,500 crore. He added that the company has a solid inventory in ongoing projects and a strong pipeline of upcoming housing launches in major cities.
Godrej Properties is poised to become the largest listed real estate firm in terms of sales bookings for the fiscal year 2024-25.
On Friday, the company reported a 19% decline in consolidated net profit to Rs 381.99 crore for the latest March quarter, despite an increase in income. In the same period last year, its net profit stood at Rs 471.26 crore.
The company’s total income rose to Rs 2,681.06 crore in the fourth quarter of the last fiscal year, compared to Rs 1,914.82 crore in the previous year.
During the March quarter, its tax outgo increased to nearly Rs 190 crore, and it reported a loss of Rs 35.36 crore in certain joint ventures. However, for the full fiscal year, Godrej Properties’ net profit surged by 93%, reaching Rs 1,399.89 crore, up from Rs 725.27 crore in the previous year.
Total income for the year grew to Rs 6,967.05 crore, compared to Rs 4,334.22 crore in the fiscal year 2023-24.
The board also approved raising up to Rs 2,000 crore through the issuance of Non-Convertible Debentures, Bonds, or other debt securities on a private placement basis, in one or more tranches.
As one of the leading real estate developers in India, Godrej Properties primarily develops group housing projects across Delhi-NCR, Mumbai Metropolitan Region, Pune, Bengaluru, and Hyderabad.
