Key Highlights from the Results:
Strong Financial Performance
Godrej Properties posted a consolidated net profit of ₹335 crore for the September quarter, a massive jump from ₹67 crore in the same period last year. The profit was buoyed by a tax write-back of ₹169 crore. Additionally, the company recorded a revenue of ₹1,093 crore for the quarter, significantly up from ₹343 crore in the corresponding quarter last year.
While the area sold during the quarter declined by 2% to 5.15 million square feet, the booking value increased by 3% to ₹5,198 crore. Customer collections surged by an impressive 68% year-on-year, reaching ₹4,005 crore for the quarter.
On Track to Achieve Full-Year Guidance
In its investor presentation, Godrej Properties reaffirmed that it is on track to achieve its full-year guidance across all major parameters. The company’s leadership remains confident of maintaining this momentum through the rest of the year.
Stock Performance
Following the announcement of the results, shares of Godrej Properties rose by 1.7%, reaching ₹2,957.45. The stock has shown a strong upward trend in 2024, registering a 47% increase year-to-date.
With strong financials and solid execution in place, Godrej Properties continues to make significant strides towards achieving its full-year targets for FY25.
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