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Informist, Saturday, May 2, 2026

By Arundathi A R

MUMBAI – Godrej Properties Ltd.'s bottom line for the March quarter is expected to post an on-year growth at the highest pace in five quarters. Its net sales are expected to recover on year, after falling for the previous three quarters, owing to new launches in the reporting quarter, according to analysts.

The Mumbai-based real estate company is expected to report an over 61% on-year rise in its consolidated net profit to INR 6.17 billion for the March quarter, according to an average of estimates from four brokerages. Sequentially, this would mean a jump of over three times in the bottom line for the quarter.

The company's consolidated net sales for the March quarter are expected to rise over 55% on year to INR 32.98 billion, according to the average of estimates. This would be a jump of nearly seven times on a quarter-on-quarter basis.

The highest estimate for the company's net profit is INR 8.86 billion from Nuvama Wealth Management Ltd. and the lowest estimate is INR 4.03 billion from HDFC Securities Ltd. The highest estimate for net sales is INR 39.88 billion from HDFC Securities while the lowest estimate is INR 21.94 billion from Kotak Securities Ltd.

For the financial year 2025-26 (Apr-Mar), the company's bottom line is estimated at INR 16.11 billion, according to Motilal Oswal Financial Services Ltd. The brokerage expects the company's top line for the full year at INR 38.24 billion.

Godrej Properties is expected to clock pre-sales of INR 80 billion for the reporting quarter on the back of new launches and sustenance sales, Kotak Securities said. In the March quarter, the company launched Godrej Aveline and Godrej Parkshire in Bengaluru and Godrej Varanya in Navi Mumbai.

The company acquired a land parcel of around 20 acres in East Bengaluru for a premium residential project, which has an estimated revenue potential of INR 13.5 billion. In February, the company executed a joint development agreement for an integrated residential project in Thane, which is spread over 18 acres. This project has an estimated revenue potential of INR 75 billion.

The growth in booking value of Godrej Properties in the March quarter was flat on year at INR 101.63 billion. Its collections for the quarter were INR 79.47 billion, up 14% on year. For FY26, the company's booking value has risen 16% on year to INR 341.71 billion and its collections have risen 17% to INR 199.65 billion.

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

The company is expected to post consolidated earnings before interest, tax, depreciation, and amortisation of INR 5.14 billion for the March quarter, according to the average of estimates. Nuvama Wealth has the highest estimate of INR 7.87 billion for the company's EBITDA and Kotak Securities has the lowest estimate of INR 1.47 billion.

Godrej Properties will announce its results Monday. Thursday, shares of the company ended at INR 1,835.20 on the National Stock Exchange, down 1.5%. The stock has risen nearly 9% since the company announced its earnings for the December quarter on Feb. 5.

Of the eight brokerage reports on the stock available with Informist, seven have a "buy" recommendation with an average target price of INR 2,472, up nearly 35% from the current price. The eighth has a "hold" recommendation.

Following are the Jan-Mar earnings estimates, in INR billion, for Godrej Properties from four brokerages in descending order of the net profit estimate:

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Edited by Akul Nishant Akhoury

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