Godrej Properties Sees Record Profit Surge Amid Real Estate Boom

Godrej Properties reported a significant jump in net profit for the December quarter, attributed to strong housing demand. This growth trend is reflected in high bookings and collections, with expectations to surpass fiscal targets despite a slight dip in quarterly sales booking value.

Godrej Properties has announced a remarkable increase in net profit for the December quarter. Driven by robust housing demand, the company's profit surged to Rs 162.64 crore, up from Rs 62.27 crore in the same period last year, showcasing a more than 2.5-fold rise.

Alongside the profit, the company's total income has more than doubled, reaching Rs 1,239.97 crore compared to Rs 548.31 crore in the prior year's corresponding period. In the first nine months of the 2024-25 fiscal year, net profit soared to Rs 1,017.90 crore from Rs 254.01 crore year-on-year, with total income at Rs 4,285.99 crore.

Pirojsha Godrej, Executive Chairperson, highlighted the firm's record-breaking year with exceptional bookings and collections. Despite a 5% drop in sales booking value for the quarter, pre-sales increased by 48% over the fiscal year to date, putting the company on course to surpass its Rs 27,000 crore FY25 bookings target.