Godrej Properties may cross Rs 32.5k cr sales target for FY26 on strong demand: Pirojsha Godrej

New Delhi, Nov 9 (PTI) Godrej Properties will meet or may even exceed its pre-sales target of Rs 32,500 crore for this fiscal, as the housing demand environment continues to be "attractive", a top company official said.

In an interview with PTI, Godrej Properties Executive Chairperson Pirojsha Godrej exuded confidence that the company would achieve annual guidance across key metrics -- pre-sales or sales bookings, collections from customers, deliveries, new project launches, and land acquisitions.

On the company's second quarter performance, he said, "I think, overall market is holding up well. The demand environment continues to be quite attractive".

Pirojsha said the company's pre-sales grew 13 per cent in the first six months of this fiscal to Rs 15,587 crore from Rs 13,835 crore in the year-ago period.

"We have already achieved about 48 per cent of our full-year guidance. Now, if you look at past years, typically, the second half is always quite a bit stronger than the first half. So, we are very confident of meeting or exceeding full-year guidance of Rs 32,500 crore," he added.

In 2024-25, Godrej Properties' sales bookings stood at Rs 29,444 crore to become the biggest listed firm in terms of pre-sales.

For the first time ever, Pirojsha said, the company, during the latest September quarter, clocked sales bookings of more than Rs 1,500 crore each in four different cities -- Delhi-NCR, Mumbai Metropolitan Region, Bengaluru and Hyderabad.

"So, all in all, it was quite a satisfying quarter. But, there are a lot of opportunities in the third and fourth quarter as well," he added.

Pirojsha said the company has a strong launch pipeline for the second half of this fiscal year, which would help it to meet or surpass the annual target.

He said the company is launching a large project at Worli in Mumbai with an estimated revenue of over Rs 10,000 crore.

The company's collection of funds from customers has been a bit slow due to delays in construction activities because of monsoon and environmental-related issues, Pirojsha pointed out.

Nevertheless, he remained confident of meeting the collection target of Rs 21,000 crore for this fiscal.

During the April-September period of FY26, it has collected Rs 7,736 crore, which is 37 per cent of the target.

Pirojsha said a lot of deliveries of projects will happen in the January-March quarter of FY26, helping the company to meet the target of fund collections from customers.

On the outlook, he said the equity capital of Rs 6,000 crore raised through a QIP (qualified institutional placement) last year, coupled with the operating cash flow, would help the company to keep investing to attain higher growth.

On the financial front, Godrej Properties recently reported a 21 per cent increase in its consolidated net profit to Rs 402.99 crore in the second quarter of this fiscal year.

Its net profit stood at Rs 333.79 crore in the year-ago period.

The total income rose to Rs 1950.05 crore during the July-September period of this fiscal from Rs 1,346.54 crore in the corresponding period of the preceding year.

Godrej Properties is one of the leading real estate developers in the country.

For group housing projects, Godrej Properties focuses on five markets- Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru and Hyderabad.

The company offers housing plots across cities in India. PTI MJH BAL BAL