Earnings Review
Godrej Prop Q2 PAT up in double digits on inventory gain
This story was originally published at 14:47 IST on 6 November 2025
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--Godrej Prop Jul-Sept consol net profit INR 4.05 bln
--Analysts saw Godrej Prop Jul-Sept consol net profit INR 3.16 bln
--Godrej Prop Jul-Sept consol revenue INR 7.40 bln
--Analysts saw Godrej Prop Jul-Sept consol revenue INR 11.30 bln
--Godrej Prop Jul-Sept consol PAT INR 4.05 bln vs INR 3.35 bln year ago
--Godrej Prop Jul-Sept consol revenue INR 7.40 bln vs INR 10.93 bln yr ago
--Godrej Prop Apr-Sept consol PAT INR 10.05 bln vs INR 8.55 bln year ago
--Godrej Prop Apr-Sept consol revenue INR 11.75 bln vs INR 18.32 bln yr ago
--Godrej Prop Q2 consol real estate revenue INR 7.14 bln vs INR 10.71 bln
---Godrej Prop Q2 consol hospitality revenue INR 260.6 mln vs INR 219.9 mln
--Godrej Prop Jul-Sept consol EBITDA INR 6.14 bln, up 118% on year
--Godrej Prop Jul-Sept consol booking value INR 85.05 bln, up 64% on year
--Godrej Prop: Achieved 48% of booking value guidance for FY26
--Godrej Prop: On track to beat FY26 booking value guidance INR 325 bln
--Godrej Prop Jul-Sept collections INR 40.66 bln, up 2% on year
--Godrej Prop: Q2 sales growth driven by strong demand in key new launches
--Godrej Prop: Launched 12 new projects and phases across 8 cities in Q2
--Godrej Prop net debt INR 55.65 bln on Sept 30 vs INR 46.37 bln qtr ago
--Godrej Prop adds 4 projects in Q2; expected booking value INR 48.50 bln
--Godrej Prop sold 7.14 mln sq ft area in Jul-Sept
By Arundathi A R
MUMBAI – Godrej Properties Ltd. Thursday posted a robust on-year jump in its bottom line for the September quarter despite an on-year fall in its top line, driven by a large gain in inventories. The company managed to beat the Street's estimate for net profit. However, its top line was way lower than analysts' estimate.
The company reported an almost 21% on-year rise in its consolidated net profit to INR 4.05 billion, which was higher than the Street's estimate of INR 3.16 billion. Its revenue fell over 32% on year to INR 7.40 billion, lower than the INR 11.30 billion expected for the reporting quarter. On sequential basis, the company's top line rose over 70% while its bottom line fell over 32%. The Mumbai-based company gained inventories of finished goods and construction work-in-progress at INR 32.08 billion for the September quarter.
Godrej Properties' total expenditure for the September quarter was INR 13.01 billion, up nearly 16% on year. Expenses rose primarily due to a over 112% increase in cost of raw materials to INR 38.53 billion, accounting for almost 300% of the overall expenditure of the company. Its employee costs and other expenses rose in double digits on year for the reporting quarter. The company's employee cost rose to INR 1.68 billion, up over 55% on year and other expenses rose 29% on year to INR 4.40 billion. However, the company's finance costs for the September quarter fell nearly 52% on year to INR 215 million.
The real-estate company reported a 118% on-year rise in its consolidated earnings before interest, tax, depreciation, and amortisation at INR 6.14 billion for the September quarter. The company's collections for the September quarter stood at INR 40.66 billion, up 2% on year.
Godrej Properties had a consolidated booking value of INR 85.05 billion, up 64% on year, achieved through sales of 7.14 million square feet area in Jul-Sept. In Apr-Sept, the company had a booking value of INR 155.87 billion, up 13% on year. With this, the company has achieved 48% of the annual booking value guidance in the first half. The company said it was on track to beat its booking value guidance of INR 325 billion for 2025-26 (Apr-Mar).
For the half-year ended September, the company reported a consolidated net profit of INR 10.05 billion, up nearly 18% on year. Its revenue for the period fell nearly 36% on year to INR 11.75 billion.
For the September quarter, the company reported a consolidated revenue of INR 7.14 billion from the real-estate segment, down over 33% on year. But, its revenue from the hospitality segment rose nearly 19% on year to INR 260.6 million.
The company's sales growth in the September quarter was driven by strong demand in key new launches. Godrej Properties launched 12 new projects and phases during the reporting quarter across eight cities with a total sales potential of INR 101 billion. The company added four new projects in the September quarter with an estimated booking value of INR 48.50 billion.
Godrej Properties board Thursday approved merger of its wholly-owned subsidiary Embellish Houses Pvt. Ltd. with the company, it said in a filing with the bourses. At 1421 IST, shares of the company traded over 3% lower at INR 2,219 on the National Stock Exchange. End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Akul Nishant Akhoury
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