Godrej Properties Q4 Results – Profit Rise 14%


    Share post:

    Godrej Properties, a real estate company, saw its profits rise by 14% in the fourth quarter of FY24, reaching Rs 471 crore compared to Rs 412 crore in the same period last year. However, revenue from operations dropped by 13.37% to Rs 1,426 crore. Profit before tax increased by 5.49% to Rs 601 crore.

    The company’s EBITDA (earnings before interest, taxes, depreciation, and amortization) stood at Rs 649 crore, showing a 3% growth from the previous year. The EBITDA margin was 33.2%. Collections for the quarter were Rs 4,693 crore, up by 23%, while net operating cash flow was Rs 2,607 crore, a 16% increase year-on-year.

    During the quarter, Godrej Properties saw a surge in bookings, reaching Rs 9,519 crore compared to Rs 4,051 crore in the same quarter last year. They sold 8.17 million square feet of area, a significant increase from the previous year’s 2.52 million square feet. The company added four group housing projects across three cities during this period, with an estimated booking value of Rs 12,800 crore.

    On an annual basis, the company’s consolidated net profit increased by 27% to Rs 725 crore, with total income rising by 45% to Rs 4,362 crore in FY24 over FY23.

    Pirojsha Godrej, the executive chairperson of Godrej Properties, expressed satisfaction with the company’s performance in FY24, highlighting its best-ever bookings, cash collections, earnings, and deliveries. He mentioned plans to grow residential bookings to over Rs 27,000 crore in FY25 through the launch of new projects.

    In other news, the Godrej group recently announced a family settlement agreement to split the conglomerate into two branches, with listed companies retained by Adi Godrej and Nadir Godrej, and the unlisted company, Godrej & Boyce Manufacturing Company, going to other family members.

    Godrej Properties operates as a subsidiary of Godrej Industries and focuses on residential, commercial, and township development across various cities.

    MetricQ4 FY24Q4 FY23Change
    Consolidated Net Profit (in crores)Rs 471.26Rs 412.14+14.34%
    Revenue from Operations (in crores)Rs 1,426.09Rs 1,646.62-13.37%
    Profit Before Tax (in crores)Rs 601Rs 570.01+5.49%
    EBITDA (in crores)Rs 649Rs 630+3%
    EBITDA Margin33.2%32.6%+0.6%
    Collections (in crores)Rs 4,693Rs 3,814+23%
    Net Operating Cashflow (in crores)Rs 2,607Rs 2,250+16%
    Booking Value (in crores)Rs 9,519Rs 4,051+135.6%
    Area Sold (in million sq.ft)8.172.52+224.2%
    Projects Added4
    Estimated Booking Value (in crores)Rs 12,800
    Full Year Net Profit (in crores)Rs 725Rs 570+27%
    Total Income (in crores)Rs 4,362Rs 3,010+45%

    Related Posts

    Latest posts

    Real Estate Developers & Agents To Come Out and Register Under RERA: Anand Kumar, Chairman, NCT of Delhi RERA 

    Real Estate Developers & Agents To Come Out and Register Under RERA: Anand Kumar, Chairman, NCT of Delhi...

    Healthcare Giant Narayana Hrudayalaya Invests in Bengaluru Real Estate: Southern Market on the Rise

    Bengaluru Real Estate: Narayana Hrudayalaya, a healthcare company, recently bought a piece of land in Bengaluru for a...

    The aspiring generation driving growth of the student housing segment

    Over the past decade, India’s education system has transformed immensely. This is further accentuated by the country’s technological...

    Commercial Integration – Reshaping India’s Residential Landscape

    - by Akash Pharande, Managing Director - Pharande Spaces One important feature changing how people live and work in India's fast urbanizing terrain is the...