GPL’s best ever quarterly and annual sales – booking value stood at INR 9,519
crore in Q4 FY24, up 135% YoY and 66% QoQ, and grew 84% to INR 22,527 crore
for FY24
Highest ever quarterly and annual net profit of INR 471 crore in Q4 FY 24 and INR
725 crore for FY24
Highest ever quarterly and annual collections with INR 4,693 crore in Q4 FY24
and INR 11,436 crore in FY24
Highest ever annual project deliveries with projects aggregating ~12.5 million
sq. ft. delivered in FY24
Strong year for business development with addition of 10 projects with a total
estimated booking value of ~INR 21,225 Crore
Mumbai, May 03, 2024: Godrej Properties Limited (GPL), a leading national real estate
developer, announced its financial results for the fourth quarter ended March 31, 2024.
CORPORATE HIGHLIGHTS:
Sales Highlights
Q4 FY24 was GPL’s highest ever quarterly sales for the third quarter in a row
witnessing total booking value of INR 9,519 crore from the sale of 5,331 homes with
8.17 million sq. ft. of area sold. This is the highest ever quarterly sales announced to
date by any publicly listed real estate developer in India.
FY24 bookings grew to INR 22,527 crore in FY24, a growth of 84% over the previous
best ever year and 61% above the guidance provided at the start of the year. This is
the highest ever annual sales announced to date by any publicly listed real estate
developer in India. This was achieved through the sale of 14,310 homes with a total
area of 20 million sq. ft.
Sales were driven by superlative consumer demand in some key new project launches.
Godrej Zenith in NCR achieved a booking value of INR 3,008 crore and Godrej
Reserve in MMR achieved a booking value of INR 2,693 crore. Both of these projects
were the best ever launches for GPL in the respective markets.
In FY24, 4 projects (including Godrej Aristocrat launched in Q3 and Godrej Tropical
Isle launched in Q2) achieved over INR 2,000 crore booking value.
GPL’s bookings in NCR in FY24 grew 180% to INR 10,016 crore and GPL’s bookings
in MMR grew 114% to over INR 6,545 crore.
Highest ever quarterly sales in MMR with sales of INR 4,022 crore in Q4FY24.
8 new projects/phases were launched during the quarter across 5 cities
Commenting on the performance of Q4 FY2024, Mr. Pirojsha Godrej, Executive
Chairperson, Godrej Properties Limited, said:
“Godrej Properties delivered a robust and well-rounded performance in FY24 registering its
best-ever bookings, cash collections, earnings, and deliveries as well as a strong year for
business development. The residential real estate sector in India has been strong over the
past three years and we believe the sectoral tailwinds will continue over the next few years.
The significant levels of business development we have executed in previous years at
favourable terms allowed us to scale our bookings by 84% to INR 22,527 crore in FY24 and
become the largest publicly listed real estate developer in India be sales.
In FY25, we hope to grow residential bookings to over INR 27,000 crore through the launch of
a large number of exciting new projects combined with strong sustenance sales. This
combined with strong project deliveries should allow us to maintain rapid growth in operating
cash flows as well. With a robust launch pipeline, strong balance sheet, and sectoral tailwinds,
we are confident of an outstanding FY25.”
