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Informist, Sunday, Aug. 2, 2026

By Ashutosh Pati

MUMBAI – Godrej Properties Ltd.'s top line for the June quarter is likely to surge on a yearly basis, aided by a rise in pre-sales, according to brokerages tracking the company. However, its bottom line is expected to fall after four straight quarters of growth. One brokerage--Motilal Oswal Financial Services Ltd.--expects the real estate company to post a loss for the quarter.

Godrej Properties is expected to report a consolidated net profit of INR 4.74 billion for the June quarter, down 21% on year and over 27% on quarter, as per the average of estimates from five brokerages. The highest estimate for the company's net profit is INR 7.60 billion from Elara Securities (India) Pvt. Ltd. and the lowest is INR 2.15 billion from Nuvama Wealth Management Ltd. Motilal Oswal expects a loss of INR 510 million for the quarter.

The Mumbai-based real estate company's revenues for the quarter are expected to have nearly tripled on year to INR 12.62 billion, as per the average of six estimates. The estimates range from an unusually high INR 36.31 billion from Elara Securities to a low of INR 6 billion from Motilal Oswal. However, the company's top line is seen falling nearly 64% sequentially.

"At the company level, Godrej Properties appears to have had one of the stronger starts to the year, aided by healthy traction in recently launched projects in Bengaluru and Gurugram," according to BofA Securities India Ltd. "We expect the company to deliver c.20% YoY (year-on-year) pre-sales growth in Q1FY27, implying achievement of roughly 22% of its FY27 booking guidance at the end of the first quarter," the brokerage said.

Kotak Securities Ltd. and Motilal Oswal expect the company's pre-sales for the quarter to be strong at INR 80 billion. The growth will be driven by new launches--Vanantara Bengaluru with INR 20 billion sales contribution, Samaris Gurgaon with a gross development value of INR 40 billion to INR 50 billion, and Brooklyn Avenue in Hyderabad with gross development value of INR 35 billion to INR 40 billion, Kotak Securities said.

"GPL's (Godrej Properties Ltd.'s) strategy stands out on strong micro-market selection, margin-accretive project addition, and high economic share, even as it deepens its footprint in existing markets and expands beyond its top 6-7 markets," Elara Securities said. Investors will monitor comments on large launches, including a project at Bandra Reclamation in Mumbai, it said.

However, brokerages are divided on the company's consolidated earnings before interest, tax, depreciation, and amortisation, with a couple seeing an EBITDA loss for the quarter. Three brokerages see the company's EBITDA between INR 865 million and INR 5.95 billion. Kotak Securities expects an EBITDA loss of INR 1.02 billion and Motilal Oswal sees the EBITDA loss at nearly INR 2 billion.

Godrej Properties will detail its June quarter earnings Tuesday. Friday, its shares closed slightly lower from Thursday at INR 2,105.70 on the National Stock Exchange. The company had reported a consolidated net profit of INR 6.50 billion for the March quarter on revenues of INR 34.58 billion. Since that announcement, the stock is up 11%.

Of the eight brokerage reports on the company available with Informist, six have a "buy" or equivalent recommendation on the stock with an average target price of INR 2,440 per share. This is around 16% higher than the current market price. The remaing two say "hold".

Following are the June quarter earnings estimates for Godrej Properties Ltd. from six brokerages, in descending order of the net profit estimate followed by net loss, in INR million:

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Edited by Shubhayan Bhattacharya

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