Godrej Properties Profits Plummet 42% Amidst Lower Deliveries

Godrej Properties Limited reported a sharp 42% decrease in its net profit for the first quarter of FY27, falling to ₹350 crores from ₹600 crores in the prior year. The company's total income also saw a 16% contraction, dropping to ₹1,337 crores. This decline in profitability is largely attributed to significantly lower property deliveries during the quarter, with only 0.9 million sq. ft. handed over compared to 7.4 million sq. ft. in the previous quarter.

Despite the reduced revenue recognition, the company demonstrated strong sales momentum. Booking value increased by 22% year-on-year to ₹8,651 crores, marking the sixth consecutive quarter exceeding ₹7,000 crores in bookings. A key contributor was the Godrej Vanantara project in Bengaluru, which alone generated ₹3,237 crores in bookings. Customer collections also rose by 18%.

Construction outflows increased by 54% as the company accelerated execution, with three new projects added in Q1 FY27. Management has maintained its full-year FY27 guidance for booking value and anticipates cumulative operating cash flow of ₹20,000-22,000 crores across FY27 and FY28.