In This Article:
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Booking Value: INR28,800 crores, a year-on-year growth of 69%.
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Volume Sold: 26.38 million square feet, a volume growth of 54%.
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Collections: INR14,779 crores, a year-on-year growth of 40%.
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Operating Cash Flow: INR6,043 crores, a year-on-year growth of 52%.
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Net Profit: INR1,489 crores, a year-on-year growth of 124%.
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Net Debt-to-Equity Ratio: Improved to 0.23 from 0.72.
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Third Quarter Booking Value: INR5,446 crores, a decline of 5% year-on-year.
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Third Quarter Total Income: INR1,223 crores, an increase of 133%.
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Third Quarter EBITDA: INR280 crores, an increase of 85%.
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Third Quarter Net Profit: INR163 crores, an increase of 161%.
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Nine-Month Total Income: INR4,203 crores, an increase of 74%.
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Nine-Month EBITDA: INR1,336 crores, an increase of 144%.
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Nine-Month Net Profit: INR1,018 crores, an increase of 301%.
Release Date: February 04, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Godrej Properties Ltd (BOM:533150) achieved a record-breaking booking value of INR28,800 crores in 2024, marking a 69% year-on-year growth.
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The company delivered projects totaling 18 million square feet across seven cities, showcasing strong operational capabilities.
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Net profit for the year reached INR1,489 crores, a significant 124% increase year-on-year.
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The company raised INR6,000 crores through the largest ever QIP by a real estate company in India, improving the net debt-to-equity ratio to 0.23.
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Godrej Properties Ltd (BOM:533150) added 16 new projects with an estimated salable area of 29.1 million square feet, indicating a robust pipeline for future growth.
Negative Points
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The third quarter booking value saw a decline of 5% year-on-year, despite a 5% growth quarter-on-quarter.
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There were delays in project launches, such as Godrej Madison Avenue and Godrej Riverine, which were planned for Q3 but launched in early Q4.
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The third quarter collections and operating cash flow were lower than expected, attributed to fewer deliveries.
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The NCR market showed a flattish performance over nine months, raising concerns about potential market saturation.
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Approval delays in key markets, particularly in the South, have impacted the timely launch of projects.
Q & A Highlights
Q: Can you share your thoughts about sustaining sales momentum, especially since many sales are driven by launches? A: Pirojsha Godrej, Executive Chairman, stated that the company has consistently achieved strong sales, with over INR5,000 crores in inventory sold for six consecutive quarters. They are confident in maintaining this momentum due to a robust launch portfolio and strong sustenance sales.