Analyst Concall
Godrej Properties has strong launch portfolio for Jan-Mar
This story was originally published at 20:31 IST on 4 February 2025
Register to read our real-time news.Informist, Tuesday, Feb. 4, 2025
Please click here to read all liners published on this story
--Godrej Prop: Deliveries in Oct-Dec fell due to low QoQ cash flow
--CONTEXT: Godrej Properties mgmt comments in post-earnings analyst call
--Godrej Prop: Have strong launch portfolio for Jan-Mar
--Godrej Prop: Launching new projects in Hyderabad, Mumbai, Pune
--Godrej Prop: Hope to see better contribution from Pune in next few qtrs
--Godrej Prop: Looking to launch a big project in Noida
--Godrej Prop: May launch phase 1 of 66-acre project in Bengaluru Jan-Mar
--Godrej Prop: Expect very, very strong performance in Jan-Mar
--Godrej Prop: FY26 Union Budget was positive; hope for interest rate cut
--Godrej Prop: Seeing strong demand in luxury segment
By Aman Aryan and Avishek Rakshit
MUMBAI – With a strong launch portfolio for the March quarter, Godrej Properties Ltd. is looking to surpass the guidance it had earlier given for launches for the current financial year, Pirojsha Godrej, executive chairman of the company, said in a post-earnings conference call. "We've done ahead of our business development targets for the year already, signing up a good launch portfolio for the next couple of years," he said.
The Mumbai-based company is planning to launch new projects in Bangalore, Pune, Mumbai, Gurugram, and Noida, Godrej said. Apart from this, the company's plan of foraying into the Hyderabad market is also on track. Godrej Properties is looking to launch a project on a large portion of its 66-acre land in Bengaluru in the March quarter and is also planning for a 'big blockbuster launch' in Noida, one of the company's officials said.
The real estate company had guided for a launch value of INR 300 billion for the current year, of which it has achieved 79% during the first nine months of the year, according to the company's investor presentation.
The company launched seven projects and phases during the December quarter across four cities. However, there were two additional launches planned for the December quarter but slipped to the March quarter as the company received approval only at the end of the quarter, which is not a buying-friendly period, one of the company's officials said. One of these planned launches was in Hyderabad, he added.
Further, the company is also booking healthy sustenance sales in addition to sales that are mainly driven by new launches, Godrej said. The real estate developer has already crossed the full year guidance for the previous year so far, one of the company's officials said, and added that "sustenance anyway is going on the right trajectory...actually quite going (sic) rock solid."
While Godrej Properties' collections for the December quarter rose 27% on year, this growth was slower in comparison to the on-year growth in the previous two quarters due to fewer deliveries, the company official said. The company's collections rose 54% in the June quarter and 68% in the September quarter.
Fewer deliveries also affected the cash flow of the company for the quarter. It delivered 2.6 million sqft of area compared to 6.6 million sqft in the previous quarter and 2.7 million sqft in the June quarter, according to the investor presentation. The company's net operating cash flow for the quarter was INR 6.15 billion, compared with INR 7.98 billion a year ago and INR 18.34 billion in the previous quarter.
However, the company will likely see very strong growth in the March quarter and in the current financial year, Godrej said. A continued good traction is expected in the premium and luxury segments, the company official said. Talking about the Union Budget for 2025-26 (Apr-Mar), Godrej said, "We think the government is taking the right steps."
"We think the budget was a positive. We're quite hopeful that there will be an interest rate cut later this week," he added. Overall, the market remains healthy despite a few headwinds in some markets, the company official said.
Earlier Tuesday, the company had disclosed its earnings for the December quarter. Its consolidated net profit rose 161% on year to 1.63 billion as its real estate segment's revenue tripled on year. Its consolidated revenue for the quarter was INR 9.69 billion. Tuesday, shares of the company closed at INR 2,389.85 on the National Stock Exhange, up 3%. End
Edited by Deepshikha Bhardwaj
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2025. All rights reserved.
To read more please subscribe
Share this Story:
