Godrej Properties books Rs 8,008 crore in Q2, profit falls

Godrej Properties reported a booking value of Rs 8,008 crore for the Q2 FY27 quarter, the seventh straight quarter above Rs 7,000 crore, but consolidated net profit fell 62 percent to Rs 154 crore from Rs 405 crore a year earlier. The results were reported on Friday, 23 October 2026, and they show a developer with strong cash collections running alongside weak reported earnings.

The company sold 3,658 homes covering 6.2 million sq ft in the quarter. Bookings were down 6 percent from a year ago and down 7 percent from the previous quarter. For the first half of FY27, bookings grew 7 percent year on year to Rs 16,659 crore, the highest first half booking value in the history of Godrej Properties, from 7,396 units covering 12.3 million sq ft.

Godrej Properties collections rise as profit falls

Customer collections in Q2 FY27 rose 31 percent year on year and 22 percent from the previous quarter to Rs 5,318 crore, and operating cash flow increased 33 percent year on year to Rs 1,584 crore. Total income for the quarter grew 38 percent year on year to Rs 2,575 crore, while EBITDA fell 72 percent to Rs 171 crore, with a margin of 6.6 percent against 32.9 percent a year earlier.

Net profit for the quarter came in at Rs 154 crore, with a net margin of 6.0 percent against 21.7 percent a year earlier. For the first half, net profit dropped 50 percent to Rs 504 crore. Profit under accounting rules depends on revenue recognised as projects progress, not on bookings, so a quarter with fewer large launches and higher costs can look weak on profit even as cash flow stays strong.

Godrej Properties sustenance sales drive the quarter

Sustenance sales, which are bookings from projects launched earlier, made up 63 percent of Q2 FY27 bookings at Rs 5,054 crore, up 83 percent from last year and up 43 percent from the previous quarter. Godrej Properties chairman Pirojsha Godrej said that while headline earnings and bookings numbers for the quarter look muted, Q2 was a very strong operating quarter.

Top sellers in the quarter included Godrej Crown Residences in Noida, which contributed Rs 1,036 crore, and Godrej Brooklyn Avenue in Hyderabad, which added Rs 727 crore. By geography in Q2, the National Capital Region contributed Rs 1,926 crore, followed by the Mumbai Metropolitan Region at Rs 1,899 crore and Bengaluru at Rs 1,564 crore. Pune contributed Rs 976 crore, Hyderabad Rs 782 crore and other markets Rs 861 crore.

Godrej Properties expects stronger second half bookings

Management expects FY27 bookings to grow 15 to 20 percent, with second half bookings of Rs 22,500 to Rs 25,000 crore backed by about Rs 32,000 crore of launches. Added to the first half, that points to roughly Rs 39,000 to Rs 42,000 crore for the year. During Q2, Godrej Properties added one new project with an estimated booking value of about Rs 6,000 crore, taking first half business development additions to Rs 15,500 crore.

Net debt stood at Rs 7,908 crore, or 0.41 times equity. Shares in Godrej Properties fell as much as 6 percent to Rs 1,468 during the results day and were down about 4 percent at Rs 1,500 in mid afternoon trade, with a market value of about Rs 45,200 crore.