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Informist, Wednesday, Feb. 4, 2026

By Arundathi A R

MUMBAI - Godrej Properties Ltd. is expected to post an over four times jump on year in its bottom line for the December quarter, which is the highest on-year growth in five quarters. Its net sales are expected to recover on year, after falling for the previous two quarters, owing to new launches in the reporting quarter, according to analysts.

The Mumbai-based real estate company is expected to report a nearly 332% on-year rise in its consolidated net profit to INR 7.02 billion for the December quarter, according to the average of estimates from five brokerages. Sequentially, this would mean a rise of over 73%.

The company's consolidated net sales for the December quarter are expected to rise almost 41% on year to INR 13.65 billion, according to the average of estimates. This would be a rise of over 84% on a quarter-on-quarter basis.

The highest estimate for net profit is INR 11.50 billion from Motilal Oswal Financial Services Ltd. while the lowest estimate is INR 3.25 billion from JM Financial Institutional Securities Pvt. Ltd. The highest estimate for net sales is INR 18.42 billion from JM Financial while the lowest estimate is INR 9.91 billion from Kotak Securities Ltd.

"Q3 (Oct-Dec) sales are expected to come in stronger on back of healthy launches during the quarter," Nuvama Wealth Management Ltd. said. In the December quarter, the company launched Godrej Trilogy in Mumbai, Godrej Woods in Bengaluru, Godrej Elaris in Pune, and Godrej Azure in Chennai.

Godrej Properties is expected to clock pre-sales of INR 85 billion for the reporting quarter on the back of new launches and sustenance sales, Kotak Securities said. The company acquired a land parcel of around 26 acres near Sarjapur Road in southern Bengaluru for a premium residential project, which has an estimated revenue potential of INR 11 billion. In November, the company acquired an additional 3.8-acre land parcel for this project, with an estimated total revenue potential of INR 35 billion. The acquisition will help the company collect INR 24 billion of additional revenue and to unlock 2 million square feet of additional development potential.

Godrej Properties' booking value in the December quarter had risen 55% on year to INR 84.21 billion. Its collections for the quarter were INR 42.82 billion, up 40% on year. For the nine months ended December, the company's booking value has risen 25% to INR 240.1 billion and its collections have risen 19% to INR 120.2 billion.

The real estate developer offers a diverse range of projects, including residential and commercial. The company is currently developing projects in over 15 cities across India covering over 21.7 million square meters.

Analysts are divided on how the company will fare in terms of its consolidated earnings before interest, tax, depreciation, and amortisation. JM Financial and Motilal Oswal expect the company to report an EBITDA of INR 4.85 billion and INR 3.37 billion, respectively. On the other hand, HDFC Securities Ltd. and Kotak Securities expect the company to report an EBITDA loss of INR 1.16 billion and INR 884 million, respectively.

Godrej Properties will announce its earnings for the December quarter Thursday. On Wednesday, shares of the company ended at INR 1,711.70 on the National Stock Exchange, up nearly 1% from the previous session. The stock has fallen nearly 22% since the company announced its earnings for the September quarter.

Of the seven research reports on the stock available with Informist, five have a "buy" recommendation, with an average target price of INR 2,884, which is up over 68% from the closing price Wednesday. Of the remaining two, one has a "sell" recommendation and other has a "hold" recommendation on the stock.

Following are the Oct-Dec earnings estimates for Godrej Properties from five brokerages in descending order of the estimate of net profit in INR billion:

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Edited by Ashish Shirke

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