Luxury Real Estate Developer Achieves Record Rs 10,163 Crore Bookings in Q4, Exceeds Annual Guidance with 2 Major Project Launches
With a PE ratio of 39.5, the company trades at a premium compared to the industry PE of 28.5. The company has ROCE of 5.74 per cent and ROE of 6.79 per cent.
Godrej Properties Limited, a prominent national real estate developer, has announced its highest ever quarterly and full-year bookings. In Q4 FY25, the company achieved a booking value of Rs 10,163 crore, marking an 87 per cent quarter-on-quarter and 7 per cent year-on-year growth. This milestone was reached through the sale of 3,703 homes covering a total area of 7.52 million square feet. For the full fiscal year, the booking value rose by 31 per cent year-on-year to Rs 29,444 crore, with a volume growth of 29 per cent from the sale of 15,302 homes. The company has exceeded its annual guidance for booking value, achieving 109 per cent of the target for FY25. Key project launches, such as Godrej Riverine in Noida and Godrej Astra in Gurugram, significantly contributed to these results.
Gaurav Pandey, MD & CEO, expressed delight over crossing the Rs 10,000 crore mark in Q4FY25, highlighting a compounded annual growth rate of 55 per cent in sales bookings over the last three years. The company plans to maintain a strong launch pipeline, supported by a future booking value of Rs 26,450 crore and equity capital raised through a QIP in December 2024.
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Godrej Properties Limited (GPL) is the real estate development arm of the Godrej Group, established in 1990. It is recognised as India's largest developer by the number of homes sold in FY23, having delivered approximately 41 million square feet of real estate since FY18. The company operates on an asset-light business model and has a total developable area of around 215 million square feet across India, with 99 projects in its portfolio. GPL has access to large land banks through agreements with various Godrej Group entities, enabling strategic land development.
The company has significantly increased its market share in key regions like NCR, Bengaluru, and Pune over recent years. Known for its commitment to sustainability, GPL has received numerous accolades, including being ranked #1 globally for sustainability practices among listed residential developers. The company enjoys the lowest bank funding cost in the sector at 5.95 per cent per annum, attributed to its robust financial position and the goodwill of the Godrej Group.
In the Quarterly Results of December 2024, the company reported a revenue of Rs 968.88 crore, reflecting a YoY growth of 193.21 per cent compared to Rs 330.44 crore in December 2023. The operating profit stood at Rs 9.27 crore, improving from a loss of Rs 66.08 crore in the same quarter last year. The profit after tax (PAT) increased by 161.19 per cent to Rs 162.64 crore from Rs 62.27 crore in December 2023.
In FY24, the company posted a revenue of Rs 3,035.62 crore, registering a 34.78 per cent growth compared to Rs 2,252.26 crore in FY23. The net profit for the year stood at Rs 725.27 crore, up 26.93 per cent from Rs 571.39 crore in the previous financial year.
With a PE ratio of 39.5, the company trades at a premium compared to the industry PE of 28.5. The company has ROCE of 5.74 per cent and ROE of 6.79 per cent.
Investors must keep this Large-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.