Godrej Properties Ltd.

Operational Highlights

  • Booking Value: ₹8,651 crores in Q1 FY27, up 22% YoY (Q1 FY26: ₹7,082 crores)
  • Area Sold: 6.2 million sq. ft. (flat YoY)
  • Collections: ₹4,348 crores, up 18% YoY (Q1 FY26: ₹3,670 crores)
  • Units Sold: 3,738 units
  • Deliveries: 0.9 million sq. ft. received occupancy certificate
  • New Projects: Added 3 projects with 8.0 million sq. ft. saleable area and expected booking value of ₹9,500 crores
  • Construction Outflow: Increased 54% YoY
  • Leasing: ~35,000 sq. ft. net area

Key Launches in Q1 FY27

  • Godrej Vanantara, Bengaluru: ₹3,237 crores, 2.99 million sq. ft.
  • Godrej Samaris, Gurugram: ₹1,248 crores, 0.38 million sq. ft.
  • Godrej Brooklyn Avenue, Hyderabad: ₹317 crores, 0.26 million sq. ft.

Geographic Sales Distribution (Q1 FY27)

  • Bengaluru: ₹3,798 crores (3.3 million sq. ft.)
  • MMR: ₹1,805 crores (0.8 million sq. ft.)
  • NCR: ₹1,538 crores (0.6 million sq. ft.)
  • Pune: ₹939 crores (0.9 million sq. ft.)
  • Hyderabad: ₹410 crores (0.4 million sq. ft.)
  • Others: ₹161 crores (0.2 million sq. ft.)

Financial Performance

Profit & Loss Statement (Consolidated, INR Crores)

| Particulars | Q1 FY27 | Q1 FY26 | % Change | Q4 FY26 | % Change | FY26 |

| Total Income | 1,337 | 1,593 | -16% | 3,895 | -66% | 8,374 |

| Adjusted EBITDA | 557 | 925 | -40% | 1,051 | -47% | 2,957 |

| EBITDA | 545 | 915 | -40% | 959 | -43% | 2,826 |

| Profit before tax | 480 | 861 | -44% | 871 | -45% | 2,574 |

| Net Profit after tax | 350 | 600 | -42% | 650 | -46% | 1,850 |

Total Income Breakdown (Q1 FY27)

  • Project Revenue: ₹507 crores (including Godrej Greenview Estate, Indore: ₹64 crores; Godrej Reserve, MMR: ₹56 crores; Godrej South Estate, NCR: ₹51 crores)
  • Interest and Other Income: ₹839 crores
  • Profit & Loss from Joint Venture: -₹9 crores

Cash Flow Statement (Q1 FY27, INR Crores)

  • Operating Cash Inflow: ₹4,998
  • Operating Cash Outflow: ₹4,599 (Construction & related: ₹2,244; Other project related: ₹2,355)
  • Net Operating Cashflow: ₹399
  • Financial Cashflow: -₹247 (Interest, Corporate Taxes & Other Outflow)
  • Capital Cashflow: -₹1,346 (Land, approval & capital outflow: ₹1,211; Advance to JV Partners: ₹135)
  • Net Cashflow: -₹1,193
  • Adjustment for JV projects: -₹2
  • Ind AS Adjustments: -₹28
  • Total Net Debt Increase under Ind AS: ₹1,223

Balance Sheet Position (as of June 30, 2026)

  • Net Debt: ₹7,637 crores (Mar 31, 2026: ₹6,414 crores)
  • Networth: ₹19,505 crores (Mar 31, 2026: ₹19,156 crores)
  • Net Debt/Equity Ratio: 0.39 (Mar 31, 2026: 0.33)
  • Average Borrowing Cost (YTD): 7.15%

Profitability Metrics

  • Adjusted EBITDA Margin: 41.7% (Q1 FY26: 58.1%)
  • EBITDA Margin: 40.8% (Q1 FY26: 57.5%)
  • PBT Margin: 35.9% (Q1 FY26: 54.0%)
  • Net Profit Margin: 26.2% (Q1 FY26: 37.7%)

Business Development

Added 3 new projects in Q1 FY27:

1. Greater Noida DMIC, NCR: 5.78 million sq. ft., ₹7,000 crores expected BV, 100% owned

2. Noida Sector 150, NCR: 1.09 million sq. ft., ₹2,000 crores expected BV, 100% owned

3. Chennai Plotted-2 (OMR): 1.18 million sq. ft., ₹500 crores expected BV, 100% owned

FY27 Guidance vs Actual (YTD)

| Particulars | FY26 Actual | FY27 Guidance | FY27 YTD Actual | Achievement (%) |

| Launch value (INR Crore) | 42,200 | 48,000 | 10,500 | 22% |

| Booking Value (INR Crore) | 34,171 | 39,000 | 8,651 | 22% |

| Customer Collections (INR Crore) | 19,965 | 24,000 | 4,348 | 18% |

| Deliveries (Million Sq. Ft.) | 12.1 | 13.5 | 0.9 | 7% |

| Business Development (INR Crore) | 42,100 | 20,000 | 9,500 | 48% |

Strategic Priorities and Outlook

  • GPL intends to deliver 20% ROE from FY28 while retaining market share leadership
  • Expects to deliver ₹40,000 crores booking value to be recognized in P&L by FY28
  • Projects ~₹20,000 crores operating cash flow between Q2 FY27 and Q4 FY28
  • Targets ₹52,000-55,000 crores collections and ₹20,000-22,000 crores OCF cumulatively for FY27 & FY28
  • Aims to be FCF positive by FY28

Sustainability & ESG Achievements

  • Included in TIME World's Most Sustainable Companies 2026 (only Indian real estate company)
  • Ranked #1 globally with score 100/100 by GRESB in 2025
  • Ranked #1 globally in Real Estate and Management sector on S&P Global's Dow Jones Best in class indices
  • Received Golden Peacock National Quality Award 2026
  • CDP 'A' list in 2025 and recognized as supply chain leader
  • SBTi approval on near-term goals, long term and Net Zero Goals in Jan 2026
  • Diverted 14,052 metric tonnes of waste from landfills in Q1 FY27
  • Supported 2,286 workers through BOCW and non-BOCW registrations
  • Crop Residue Management project avoided 9,858 tCO₂e emissions in Q1 FY27

Project Portfolio Details

The annexure provides detailed project-wise information across:

  • Mumbai Zone: 33 projects, 57.43 million sq. ft. saleable area
  • North Zone: 32 projects, 53.70 million sq. ft. saleable area
  • South Zone: 27 projects, 56.01 million sq. ft. saleable area
  • West-East Zone: 25 projects, 80.84 million sq. ft. saleable area
  • Commercial Projects: Build to sale, build to lease, and build to operate segments

Capital Structure Impact

No significant changes to share capital reported. Equity share capital remained stable at ₹150.61 crores as of June 30, 2026.