Godrej Properties Q1 FY27 Results: Bookings Up 22% YoY to ₹8,651 Crore; Net Profit at ₹350 Crore

What Happened ?

Godrej Properties Limited announced its Q1 FY27 financial results, reporting bookings of ₹8,651 crore, up 22% YoY, marking the highest first-quarter booking value achieved by the company. Collections grew 18% YoY to ₹4,348 crore. The company added ₹9,500 crore of future sales potential through portfolio additions. Net profit for the quarter stood at ₹350 crore. Total income declined 16% YoY to ₹1,337 crore due to project execution timelines.

key details

• Bookings up 22% YoY to ₹8,651 crore – highest Q1 bookings ever.
• 6th consecutive quarter with bookings exceeding ₹7,000 crore.
• Collections up 18% YoY to ₹4,348 crore.
• Operating cash flow at ₹399 crore.
• 3 new projects added (~8.0 million sq. ft.; ₹9,500 crore expected booking value).
• 48% of annual business development guidance achieved in Q1.
• Bookings contribution: Bengaluru (44%), MMR (21%), NCR (18%), Pune (11%), Hyderabad (5%).
• New project launches: Godrej Vanantara (₹3,237 crore) – Bengaluru; Godrej Samaris (₹1,248 crore) – Gurugram; Godrej Brooklyn Avenue (₹317 crore) – Hyderabad.
• Construction and related outflow increased 54% YoY.
• Delivered 0.9 million sq. ft. in Q1 FY27.
• Recognitions: TIME World’s Most Sustainable Companies 2026 (only real estate company in India); Golden Peacock National Quality Award 2026.

Note:

• Total income, EBITDA, and net profit declined YoY due to project execution timelines. The company remains on track to deliver bookings of over ₹39,000 crore and collections of ₹24,000 crore for FY27.

Risk Analysis

Summary:

• While bookings and collections are strong, risks include project execution timelines, regulatory approvals, and market conditions.

Key Risks:

• Project execution timelines affecting revenue recognition.
• Regulatory approvals and clearances for new projects.
• Market conditions affecting real estate demand.
• Construction cost inflation and raw material price volatility.
• Competition from other real estate developers.
• Interest rate movements affecting buyer affordability.

Worst Case:

• Delays in project approvals or execution could impact revenue recognition and cash flow generation.

Risk Level: Medium

Company Commentary

Management highlighted that:

• Mr. Pirojsha Godrej, Executive Chairperson, Godrej Properties Limited: “Godrej Properties delivered another solid quarter for bookings, collections, business development and earnings. We expect the sales momentum to continue for rest of the year led by strong end user demand across key markets.”
• “We remain on track to deliver on bookings of over ₹39,000 crore and collections of ₹24,000 crore for the year, which will allow us to generate approximately ₹9,000 crore of operating cash flow, which in turn will allow us to continue to invest in sustainable growth.”
• “We will continue to seek to gain market share through outstanding design, timely delivery, and high-quality developments.”