Godrej Properties Q3 Results: Net profit fall 66% YoY to ₹34.85 crore, revenue jumps 29%

Real estate firm Godrej Properties announced its financial results for the quarter ended December 2024 (Q3FY25). The company’s standalone net profit for the quarter came in at ₹34.85 crore, tanking over 66 percent versus ₹103.36 crore in the same period last year. However, sequentially, the profit declined over 83 percent from ₹206.30 crore in the September quarter. 

Meanwhile, standalone total income for the quarter under review rose 29 percent to ₹585.41 crore as against ₹452.61 crore in the year-ago period. On a QoQ basis, it also fell over 43 percent from ₹1,038.63 crore in Q2FY25.

Furthermore, on a consolidated basis, in Q3 FY25, the company recorded strong growth compared to the same quarter last year. Total income surged 133 percent to ₹1,222 crore from ₹524 crore. EBITDA rose 85 percent to ₹280 crore, up from ₹152 crore. Net profit witnessed a sharp increase of 161 percent, reaching ₹163 crore compared to ₹62 crore. Meanwhile, earnings per share (EPS) stood at ₹5.70, up from ₹2.24 in Q3 FY24.

The Mumbai-based real estate developer also achieved 71 percent of its annual guidance for booking value for FY25, it said. Godrej Properties delivered its highest ever bookings, collections, operating cash flow, earnings, and deliveries in a calendar year in 2024

For the nine months of FY25, the company delivered strong growth compared to the same period in FY24. Total income surged 74 percent to ₹4,203 crore from ₹2,410 crore. EBITDA saw a significant rise of 144 percent, reaching ₹1,336 crore compared to ₹548 crore. Net profit jumped 301 percent to ₹1,018 crore from ₹254 crore. Meanwhile, earnings per share (EPS) stood at ₹36.29, up from ₹9.14 in the previous year.

Other Highlights

In a record-breaking calendar year 2024, the company achieved a booking value of ₹28,800 crore, marking a 69 percent increase, driven by the sale of 26.38 million sq. ft. of area, reflecting a 54 percent growth in volume. This stands as the highest-ever booking value recorded by any listed developer in India within a calendar year. Collections for the year reached ₹14,779 crore, up 40 percent year-on-year, while operating cash flow rose 52 percent to ₹6,043 crore. The company successfully delivered projects spanning approximately 18 million sq. ft. across seven cities. Additionally, it added 16 new projects with a total saleable area of 29.1 million sq. ft., expected to generate a booking value of ₹36,250 crore.

Management Commentary

“Godrej Properties delivered a record-breaking calendar year 2024 with its highest ever bookings, collections, operating cashflows, earnings and deliveries. The third quarter of financial year 2025 was the 6th consecutive quarter of more than INR 5,000 crores bookings underlying the sectoral tailwinds for the residential real estate sector in India. With a robust launch pipeline, strong balance sheet, and resilient demand, we are on-track to surpass our bookings guidance of INR 27,000 cores in FY25 while also achieving our highest ever cash collections, deliveries, earnings and operating cash flow. We remain focused on building scale through continued market share gains and margin expansion,” said Pirojsha Godrej, Executive Chairperson, Godrej Properties Limited.

Stock Price Trend

Post the result announcement, the real estate stock jumped as much as 4.3 percent to its day’s high of ₹2,420. 

The realty stock has lost over 2 percent in the last 1 year and over 16 percent in January 2025.