Business EconomyPosted at: Oct 24 2026 9:36PM


Godrej properties plans launches worth Rs 32,000 crore despite drop in profit

Mumbai, Oct 24 (UNI) Mumbai-headquartered real estate developer Godrej Properties officially announced that it has lined up project launches worth more than Rs 32,000 crore for the second half of FY27, even as its consolidated net profit fell 62 per cent year on year in the September quarter (Q3).
Godrej Properties Managing Director and CEO Gaurav Pandey announced during the company’s September-quarter earnings call that the developer had a cumulative launch pipeline of more than Rs 32,000 crore for the second half of FY27.
“We have got a cumulative launch pipeline of Rs 32,000 crores for the second half (H2),” Pandey said, adding that his company is confident about the third and fourth quarters.
Godrej Properties Chairperson Pirojsha Godrej said the company would pursue new projects only if they met its stated return metrics, including an internal rate of return of about 20 per cent and a bookings-to-net-profit margin of 15 per cent.
Godrej Properties reported a consolidated net profit of Rs 154 crore for the September quarter (Q3), compared with Rs 405 crore in the corresponding quarter of the previous financial year.
Earnings before interest, tax, depreciation and amortisation (EBITDA) declined by 72 per cent to Rs 171 crore, from Rs 614 crore, though total income increased by 38 per cent to Rs 2,575 crore, from Rs 1,867 crore.
The company recorded sales worth Rs 8,000 crore during the September quarter (Q3). Its booking value for the first half of FY27 rose 7 per cent year-on-year (YoY) to Rs 16,659 crore, which it described as its highest-ever first-half booking value.
Godrej Properties stated that it launched only one-third of its expected annual launch pipeline in the first half of the financial year but achieved 43 per cent of its annual bookings guidance.
The company’s operating metrics were supported by what it called sustenance sales, which rose 83 per cent year on year to Rs 5,054 crore. Cash collections increased 31 per cent to Rs 5,318 crore in the second quarter, while collections for the first half rose 25 per cent to Rs 9,666 crore.
Operating cash flow grew by 33 per cent year-on-year (YoY) and 297 per cent quarter-on-quarter (QoQ) to Rs 1,584 crore in the quarter.
Projects which contributed more than Rs 500 crore each to quarterly sales include Godrej Trilogy in Mumbai, Godrej Vanantara in Bengaluru and Godrej Samaris in Gurugram. Godrej Brooklyn Avenue in Hyderabad, launched towards the end of the first quarter, also contributed more than Rs 500 crore in bookings.
The company stated that its planned expansion will remain subject to the company’s return thresholds.
Godrej Properties expects the second half of FY27 to be its strongest period for launches and sales.
The company stated that its target is to collect Rs 15,000 crore and operating cash flow of Rs 7,000 crore during the period.
Godrej Properties also stated that it expects FY28 to show the impact of recent growth more clearly in reported financials under project-completion accounting, with a stated aim of generating positive free cash flow and a 20 per cent reported return on equity.
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