Godrej Properties Ltd. reported a record collection of Rs 4,000 crore, representing 68% year-on-year growth in the quarter ended September 2024. During the first half of fiscal 2025, the real estate company collection jumped 62% year-on-year to a record Rs 7,000 crore.
The real estate developer's operating cash flow, or OCF, hit a lifetime high of Rs 1,800 crore, denoting a surge of over 120% year-on-year. Also, the operating cash flow in the first half of fiscal 2025 tripled year-on-year to a record high of Rs 2,800 crore.
The company's booking value rose 3% on the year to Rs 5,200 crore from sales of over 5.1 million square feet for the second quarter of fiscal 2025.
This shows the highest second quarter booking value ever recorded by the company, according to the details reported in the exchanges.
For the first half of financial year 2025, the company's booking value surged over 89% year-on-year to exceed Rs 13,800 crore. This was fueled by the sale of more than 8,600 homes with a total area of over 14 million sq. ft. This indicates the highest first half booking value to date.
The Mumbai based real estate developer has already achieved 51% of its annual booking value guidance for financial year 2025. It has experienced a strong demand for new projects.
This includes Godrej Vrikshya in the National Capital Region, or NCR, with a booking value of approximately Rs 1,500 crore. Also, Godrej Woodside Estate in Mumbai Metropolitan Region, or MMR, is a plotted development project that generated over Rs 600 crore.
Shares of Godrej Properties closed 5.66% lower at Rs 2,897.45 apiece, compared to a 0.93% fall in the benchmark NSE Nifty.
The stock has risen 85.05% in the last 12 months and 43.91% year-to-date. The relative strength index was 42.82.
Out of 20 analysts tracking the company, 13 maintain a 'buy' rating, two recommend a 'hold' and five suggest a 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 12.9%.
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