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Informist, Friday, Aug. 1, 2025

By Shakshi Jain

NEW DELHI – Backed by a strong and diverse pipeline of projects, real-estate developer Godrej Properties Ltd. anticipates robust growth in the Delhi-National Capital Region, which it believes will sustain growth for the next 18-24 months, a top company executive said Friday. "We have a lot of projects in the Noida-Greater Noida market," the official told sector analysts on a post-earnings conference call.

Godrej Properties aims to launch a 3.6 acre project in Sector 53 of Gurugram, Haryana, in the days to come. It also plans to launch a retail asset class project for the first time as part of its Godrej Golf Links project in Greater Noida in Uttar Pradesh. "Then we have a 7.5 acre land parcel in Gurgaon which should also hit within this year," the company's management said. "We have a Greater Noida parcel that we have done an acquisition (for) that is going very well, on design and approval stage now. So that should also happen within this year." Besides, the company has new projects lined up in Mumbai, Indore in Madhya Pradesh, Ahmedabad in Gujarat, Raipur in Chhattisgarh, Bengaluru, and Hyderabad in the upcoming quarters.

In Delhi alone, where Godrej Properties has been facing policy-related challenges tied to its Ashok Vihar project, the company said there are significant supply constraints. It expects to clock strong price premiums once the Ashok Vihar project is launched, for which a timeline is still not in sight. 

In the quarter gone by, the company undertook price hikes of 2-3% in North India, 1-2% in Mumbai, under 1% in Pune, and 2-3% in markets across South India. "This is for like-to-like projects, projects which have already been launched and (for which) we were doing sustenance sales. Our sustenance sales were close to about INR 2,760-plus crores in the last quarter," the management said.

Earlier in the day, the company disclosed its earnings for the June quarter. It posted a consolidated net profit of INR 6.00 billion, up 15% on year and 57% sequentially. However, its consolidated revenue for the quarter fell over 41% on year and almost 80% sequentially to INR 4.35 billion. While the company's bottom line surpassed analysts' consensus estimate by a wide margin, its top line fell short of expectations by a similar quantum.

In Apr-Jun, Godrej Properties recorded a booking value of INR 70.82 billion through sales of 4,231 home units. This value was 18% lower on year. In terms of area, the company sold real estate spanning 6.17 million square feet during the quarter, down 31% on year. In the first three months of the current financial year, Godrej Properties had achieved 22% of its booking value guidance for the full year and 57% of its annual guidance for business development, the company said in a statement.

Friday, shares of the company closed 2.5% lower at INR 2,050.60 on the National Stock Exchange. The company released its results during market hours.  End

Edited by Rajeev Pai

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