Godrej Properties will meet or may even exceed its pre-sales target of ₹32,500 crore for this fiscal, as the housing demand environment continues to be "attractive", a top company official said.
In an interview with PTI, Godrej Properties Executive Chairperson Pirojsha Godrej exuded confidence that the company would achieve annual guidance across key metrics -- pre-sales or sales bookings, collections from customers, deliveries, new project launches, and land acquisitions.
On the company's second quarter performance, he said, "I think, overall market is holding up well. The demand environment continues to be quite attractive".
Pirojsha said the company's pre-sales grew 13% in the first six months of this fiscal to ₹15,587 crore from ₹13,835 crore in the year-ago period.
"We have already achieved about 48% of our full-year guidance. Now, if you look at past years, typically, the second half is always quite a bit stronger than the first half. So, we are very confident of meeting or exceeding full-year guidance of ₹32,500 crore," he added.
In 2024-25, Godrej Properties' sales bookings stood at ₹29,444 crore to become the biggest listed firm in terms of pre-sales.
For the first time ever, Pirojsha said, the company, during the latest September quarter, clocked sales bookings of more than ₹1,500 crore each in four different cities -- Delhi-NCR, Mumbai Metropolitan Region, Bengaluru and Hyderabad.
"So, all in all, it was quite a satisfying quarter. But, there are a lot of opportunities in the third and fourth quarter as well," he added.
Pirojsha said the company has a strong launch pipeline for the second half of this fiscal year, which would help it to meet or surpass the annual target.
He said the company is launching a large project at Worli in Mumbai with an estimated revenue of over ₹10,000 crore.
The company's collection of funds from customers has been a bit slow due to delays in construction activities because of monsoon and environmental-related issues, Pirojsha pointed out.
Nevertheless, he remained confident of meeting the collection target of ₹21,000 crore for this fiscal.
During the April-September period of FY26, it has collected ₹7,736 crore, which is 37% of the target.
Pirojsha said a lot of deliveries of projects will happen in the January-March quarter of FY26, helping the company to meet the target of fund collections from customers.
On the outlook, he said the equity capital of ₹6,000 crore raised through a QIP (qualified institutional placement) last year, coupled with the operating cash flow, would help the company to keep investing to attain higher growth.
On the financial front, Godrej Properties recently reported a 21% increase in its consolidated net profit to ₹402.99 crore in the second quarter of this fiscal year.
Its net profit stood at ₹333.79 crore in the year-ago period.
The total income rose to ₹1950.05 crore during the July-September period of this fiscal from ₹1,346.54 crore in the corresponding period of the preceding year.
Godrej Properties is one of the leading real estate developers in the country.
For group housing projects, Godrej Properties focuses on five markets- Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru and Hyderabad.
The company offers housing plots across cities in India.
