Godrej Properties Q3 profit jumps 2.5x to Rs 163cr; pre-sales up 48% to Rs 19,281cr in Apr-Dec

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New Delhi: Realty firm Godrej Properties on Tuesday reported a more than 2.5-fold jump in its consolidated net profit to Rs 162.64 crore in the December quarter on higher income amid strong housing demand.

Its net profit stood at Rs 62.27 crore in the year-ago period.

Total income also more than doubled to Rs 1,239.97 crore from Rs 548.31 crore in the corresponding period of the preceding year, according to a regulatory filing.

Net profit surged to Rs 1,017.90 crore in the April-December period of 2024-25 fiscal from Rs 254.01 crore in the year-ago period.

Total income rose to Rs 4,285.99 crore in the first nine months of this fiscal against Rs 2,419.40 crore in the corresponding period of the preceding year.

Pirojsha Godrej, Executive Chairperson of Godrej Properties, said the company delivered a record-breaking calendar year 2024 with its highest-ever bookings, collections, operating cashflows, earnings and deliveries.

The third quarter of financial year 2024-25 was the sixth consecutive quarter of more than Rs 5,000 crore bookings underlying the sectoral tailwinds for the residential real estate sector in India, he said.

Sales booking value fell 5 per cent to Rs 5,446 crore during the third quarter but pre-sales grew 48 per cent to Rs 19,281 crore during the April-December period of this fiscal.

"With a robust launch pipeline, strong balance sheet, and resilient demand, we are on track to surpass our bookings guidance of Rs 27,000 crore in FY25 while also achieving our highest ever cash collections, deliveries, earnings and operating cash flow," Pirojsha said.

The company remains focused on building scale through continued market share gains and margin expansion, he added.

Godrej Properties is one of the leading real estate developers in the country. It has a significant presence in Delhi-NCR, Mumbai Metropolitan Region, Pune and Bengaluru.

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