Godrej Properties logs record Q1 sales bookings of Rs 8,651 crore as net profit falls 42% on slower revenue recognition
AI Market Summary
Godrej Properties reported record Q1 presales and stronger collections, signaling resilient housing demand in key Indian cities. However, revenue recognition timing drove a sharp YoY decline in reported revenue, EBITDA, and net profit, highlighting earnings volatility despite healthy operating momentum and pipeline additions. The company reiterated full-year bookings and collections guidance, which may limit near-term negative read-through from weaker quarterly profits.
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Godrej Properties posted its highest-ever first-quarter sales bookings, selling 3,738 homes covering 6.2 million square feet, with presales rising 22% year-on-year to Rs 8,651 crore. Collections increased 18% to Rs 4,348 crore and operating cash flow came in at Rs 399 crore. Net profit, however, fell 42% year-on-year as consolidated revenue declined amid slower project revenue recognition. The company reaffirmed guidance of more than Rs 39,000 crore in FY27 bookings and Rs 24,000 crore in collections.
