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Informist, Monday, May 4, 2026

 

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--Godrej Prop: Have a strong portfolio in Delhi-NCR 
--CONTEXT: Comments by Godrej Prop mgmt in post-earnings analyst concall 
--Godrej Prop: Apr-Sept looks bright as we have a strong launch calendar 
--Godrej Prop: Saw some impact due to West Asia war in last two weeks of Mar 
--Godrej Prop: Pricing has been decent in south India, Mumbai 

 

By Astha Oriel and Anand JC

 

NEW DELHI – Godrej Properties Ltd. expects its calendar of project launches in 2026-27 (Apr-Mar) to be robust compared to FY26, its management told analysts during a post-earnings conference call Monday. The company said Apr-Sept looks particularly bright, given that it has a "pretty strong" launch calendar skewed towards the first half of FY27.

 

The real estate major saw limited impact on demand due to the war in West Asia, which began on Feb. 28. "I would say around March last two weeks, we did see some amount of impact... you (the company) could have probably done an INR 1,000-odd crores (INR 10 billion) more (in revenues) and would have loved to even actually deliver 20% growth last year. That was a sort of an internal target," an official said. Given that the war is still ongoing, the company is cautiously optimistic on demand sentiment.

 

Godrej Properties said some of the important launches will be made across the National Capital Region, where demand has taken a hit due to the ongoing West Asia crisis. "The idea will be to ensure strong diversification in our growth, as we've been able to do in the last few years. The National Capital Region saw a dip in sales last year. We don't think that was actually driven by what was happening in the market," Pirojsha Godrej, executive chairman, said.

 

Godrej Properties acquired an 11.36-acre land for the residential project in Sector 63, Gurugram, with a revenue potential of INR 45 billion. "Our large acquisition in Gurgaon that we've done, unfortunately, we were not able to get the approvals within the year. That is now slated for launch in Q1 (Apr-Jun)," the company said. Additionally, Godrej Properties expects to launch its much-delayed project in New Delhi's Anand Vihar this year. 

 

The company has a strong portfolio in the National Capital Region and is aiming to get back to about INR 100 billion in terms of sales from the region, which was achieved by the company in the previous two financial years, according to Godrej. The company clocked sales of INR 74.12 billion in NCR in FY26, down from INR 105.23 billion in the year-ago period. In Bengaluru, the company's sales were INR 88.01 billion in FY26, up from INR 50.89 billion in the year-ago period. 

 

The company expects to launch group housing projects in Ahmedabad and Kolkata. "We have been indicating that the company will seek to grow at 20% a year and we'll seek to have guidance growing by that amount each year," the company said. 

 

In south India and Mumbai Metropolitan Region, the company says the pricing has been "reasonably decent". The company's sales in the Mumbai Metropolitan Region were INR 103.12 billion, higher than INR 80.34 billion in the year-ago period. "I would say West (India) has been marginally better, nothing great," the company said. For Gurugram, the company said it doesn't see a good price uptake. "Noida has been a bit of a consistent surprise in the sense that there's a very strong lack of supply in that market. So it gives a sort of a clear demand-supply issue, which is why price uptake is still good," the company said. 

 

For FY27, the company expects the launch value at INR 480 billion and customer collections at INR 240 billion. The company expects project deliveries of 13.5 million square feet in FY27. "We remain extremely focused on delivering our return on equity target of 20% by the financial year 2027-28 by stepping up our speed on execution and project deliveries, which will create rapid growth in operating cash flows as well," the management said.  

 

For the March quarter, the company's consolidated net profit was INR 6.50 billion, on a revenue of INR 34.58 billion. Monday, shares of the company ended 3.52% higher at INR 1,899 on the National Stock Exchange.  End

 

Edited by Tanima Banerjee

 

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