Godrej Properties'' Construction Investment Jumps 54% to ₹2,244 Cr
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Godrej Properties boosts construction investment by 54% to ₹2,244 Cr in Q1, aiming for timely project completion. Sales bookings surge 22% despite profit dip.
New Delhi, Aug 7 (PTI) Godrej Properties' investment in construction and related activities surged 54 per cent annually to Rs 2,244 crore in the first quarter of this fiscal, as it seeks to complete ongoing projects on time.
The company's outflow on construction activities was Rs 1,458 crore in the year-ago period.
"There was a 54 per cent increase in construction and related outflow on account of the increase in pace of execution, which is likely to be seen in deliveries in 2027-28," Godrej Properties said in its latest investor presentation.
During the first quarter of this fiscal, the company delivered 0.9 million sq ft.
In the 2025-26 fiscal, Godrej Properties had delivered 12.1 million sq ft, and the company has set a target to deliver 13.5 million sq ft in 2026-27.
Earlier this week, Godrej Properties reported a 42 per cent decline in consolidated net profit to Rs 349.38 crore for the quarter ended June on lower income.
Its net profit stood at Rs 598.40 crore in the year-ago period.
The total income also fell to Rs 1,345.04 crore in the first quarter of this fiscal from Rs 1,620.34 crore in the corresponding period of the preceding year.
On the operational front, Godrej Properties reported a 22 per cent increase in sales bookings to Rs 8,651 crore for the April-June quarter of 2026-27.
The company sold 3,738 units with a total area of 6.2 million sq ft during the June quarter.
Pirojsha Godrej, Executive Chairperson of Godrej Properties, highlighted that the company has delivered another solid quarter for bookings, collections, business development and earnings.
"We expect the sales momentum to continue for the rest of the year led by strong end-user demand across key markets," he added.
Godrej Properties is the country's largest real estate developer in terms of sales bookings. The company sold properties worth Rs 34,171 crore during 2025-26.
Pirojsha expressed confidence in achieving sales bookings of over Rs 39,000 crore for the current fiscal.
The company's outflow on construction activities was Rs 1,458 crore in the year-ago period.
"There was a 54 per cent increase in construction and related outflow on account of the increase in pace of execution, which is likely to be seen in deliveries in 2027-28," Godrej Properties said in its latest investor presentation.
During the first quarter of this fiscal, the company delivered 0.9 million sq ft.
In the 2025-26 fiscal, Godrej Properties had delivered 12.1 million sq ft, and the company has set a target to deliver 13.5 million sq ft in 2026-27.
Earlier this week, Godrej Properties reported a 42 per cent decline in consolidated net profit to Rs 349.38 crore for the quarter ended June on lower income.
Its net profit stood at Rs 598.40 crore in the year-ago period.
The total income also fell to Rs 1,345.04 crore in the first quarter of this fiscal from Rs 1,620.34 crore in the corresponding period of the preceding year.
On the operational front, Godrej Properties reported a 22 per cent increase in sales bookings to Rs 8,651 crore for the April-June quarter of 2026-27.
The company sold 3,738 units with a total area of 6.2 million sq ft during the June quarter.
Pirojsha Godrej, Executive Chairperson of Godrej Properties, highlighted that the company has delivered another solid quarter for bookings, collections, business development and earnings.
"We expect the sales momentum to continue for the rest of the year led by strong end-user demand across key markets," he added.
Godrej Properties is the country's largest real estate developer in terms of sales bookings. The company sold properties worth Rs 34,171 crore during 2025-26.
Pirojsha expressed confidence in achieving sales bookings of over Rs 39,000 crore for the current fiscal.
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