Godrej Properties' Record-Breaking Year Despite Decline in Quarterly Profit

Godrej Properties reported a 19% drop in net profit for the March quarter despite increased income. The company plans to raise up to Rs 2,000 crore in debt. However, annual profits surged 93% in 2024-25, with record sales bookings and strong future growth projections, maintaining its leadership in India's real estate market.

Realty giant Godrej Properties has reported a 19% decrease in its consolidated net profit to Rs 381.99 crore for the March quarter, despite an uptick in overall income. The company, however, announced a plan to raise up to Rs 2,000 crore through debt issuance.

According to a regulatory filing, total income rose to Rs 2,681.06 crore in Q4 from Rs 1,914.82 crore the previous year. Yet, tax expenses increased significantly, and losses were incurred in specific joint ventures. For the fiscal year 2024-25, net profit soared by 93% to Rs 1,399.89 crore on the back of higher total annual income of Rs 6,967.05 crore.

Pirojsha Godrej, Executive Chairperson, stated the company had achieved its most successful financial year, marking eight consecutive years of booking value growth. With sales bookings reaching a record Rs 29,444 crore, Godrej Properties is poised to remain India's top real estate developer. The firm aims for over Rs 32,500 crore in sales bookings next fiscal year, bolstered by robust market dynamics.

(With inputs from agencies.)