Meanwhile, the total income stood at Rs 1,343 crore, surging 135% YoY.
Godrej Properties delivered its highest ever Q2 and H1 bookings as the booking value in the quarter grew 3% YoY to Rs 5,198 crore from the sale of 5.15 million sq. ft. of area. The same grew 90% to Rs 13,835 crore in H1FY25.
- “GPL has achieved 51% of its annual guidance for booking value for FY25. In the past 5 financial years, GPL has averaged 37% of its full-year bookings in the first half of the financial year,” said the company’s press release.
Additionally, the company also witnessed its highest-ever Q2 and H1 collections and operational cash flow.The collection stood at Rs 4,005 crore for Q2 FY25, a YoY growth of 68%, and the operational cash flow of Rs 1,834 crore for Q2, representing a 126% YoY jump.
GPL has added 10 new projects in year-to-date FY25 with a total estimated saleable area of approximately 13.9 million sq. ft. and a total estimated booking value potential of Rs 17,450 crore.
The company also delivered projects aggregating 6.6 million sq. ft. across 3 cities in the second quarter, taking the year-to-date total to 9.3 million sq. ft, the highest Q2 and H1 deliveries for the company.
Also read: Coforge shares rally 10%, hit upper circuit after reporting 24% YoY jump in Q2 PAT
“Godrej Properties delivered a robust quarter with its highest ever Q2 and H1 bookings, collections, operating cashflows, and deliveries. With bookings growth of 56% in FY23, 84% in FY24 and 90% in H1 FY25, GPL has reset its scale. The benefit of this is clearly visible in our cash flows with collections growth of 68% and operating cash flow growth of 125% in Q2. With a robust launch pipeline, strong balance sheet, and resilient demand, we are on track to significantly surpass our bookings target of INR 27,000 cores in FY25 while also achieving our highest-ever deliveries and collections,” said Pirojsha Godrej, Executive Chairperson of Godrej Properties.
The sectoral tailwinds for the residential real estate sector in India will continue over the next few years and we remain focused on building scale through continued market share gains and margin expansion, he added.
The shares of Godrej Properties were trading 2% higher at Rs 2,958.45 on the NSE around 1:15 pm today.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)