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Realty company Godrej Properties announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- GPL’s best ever quarterly sales - booking value stood at Rs 9,519 crore in Q4 FY24, up 135% YoY and 66% QoQ.
- Quarterly collections with Rs 4,693 crore in Q4FY24.
- Total Income grew by 1% to Rs 1,952 crore as compared to Rs 1,930 crore in Q4FY23
- EBITDA grew by 3% to Rs 649 crore as compared to Rs 630 crore in Q4FY23
- Net Profit grew by 14% to Rs 471 crore as compared to Rs 412 crore in Q4FY23
- EPS amounted to Rs 16.95 as compared to Rs 14.82 in Q4FY23
FY24 Financial Highlights:
- GPL’s best ever annual sales - booking value grew 84% to Rs 22,527 crore for FY24.
- Annual collections with Rs 11,436 crore in FY24.
- Annual project deliveries with projects aggregating ~12.5 million sq. ft. delivered in FY24.
- Strong year for business development with addition of 10 projects with a total estimated booking value of ~Rs 21,225 Crore.
- Total Income grew by 45% to Rs 4,362 crore as compared to Rs 2,998 crore in FY23
- EBITDA grew by 20% to Rs 1,197 crore as compared to Rs 994 crore in FY23
- Net Profit grew by 27% to Rs 725 crore as compared to Rs 571 crore in FY23
- EPS amounted to Rs 26.09 as compared to Rs 20.55 in FY23
Commenting on the performance of Q4 FY2024, Pirojsha Godrej, Executive Chairperson, Godrej Properties Limited, said: “Godrej Properties delivered a robust and well-rounded performance in FY24 registering its best-ever bookings, cash collections, earnings, and deliveries as well as a strong year for business development. The residential real estate sector in India has been strong over the past three years and we believe the sectoral tailwinds will continue over the next few years. The significant levels of business development we have executed in previous years at favourable terms allowed us to scale our bookings by 84% to Rs 22,527 crore in FY24 and become the largest publicly listed real estate developer in India be sales.
In FY25, we hope to grow residential bookings to over Rs 27,000 crore through the launch of a large number of exciting new projects combined with strong sustenance sales. This combined with strong project deliveries should allow us to maintain rapid growth in operating cash flows as well. With a robust launch pipeline, strong balance sheet, and sectoral tailwinds, we are confident of an outstanding FY25.”
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