Godrej Properties Ltd (GPL), one of India’s leading real estate developers, reported a robust performance in Q2 FY26, driven by strong sales bookings and strategic project launches across its key markets. The company posted a net profit of ₹402–405 crore, marking a 21% increase year-on-year, compared to ₹333–335 crore in the same period last year. This growth reflects continued demand for Godrej’s residential and mixed-use projects in Bengaluru, Mumbai Metropolitan Region (MMR), Hyderabad, and the National Capital Region (NCR).

Strong Financial Performance

During the quarter, total income rose to approximately ₹1,950 crore, up from ₹1,346 crore in Q2 FY25. Revenue from operations fell ~32% YoY due to timing differences in project completions, but strong net profit growth was supported by other income. Sales bookings, a key measure of market demand, jumped 64% YoY to ₹8,505 crore, while the total area sold increased to 7.14 million square feet, up 39% from the same period last year. Collections during the quarter reached ₹4,066 crore, reflecting modest 2% growth YoY.

The increase in net profit highlights Godrej Properties’ ability to manage its portfolio efficiently and capture high-value sales even amid timing fluctuations in revenue recognition. The results reinforce the company’s strong brand presence and operational capabilities in India’s residential real estate sector.

Robust Sales Momentum

Godrej Properties added new projects with a booking value of ~₹4,850 crore, covering 5.82 million square feet in Q2 FY26. These additions strengthen the company’s pipeline and demonstrate confidence in continued market demand. The company reaffirmed its FY26 sales booking target of ₹32,500 crore, signaling optimism in its ongoing projects.

Demand remains strong across all key markets, including Bengaluru, MMR, Hyderabad, and NCR, highlighting sustained consumer interest in premium and mid-segment residential projects. The significant rise in booking value indicates that Godrej Properties is effectively translating its project launches into measurable market success.

Operational and Market Insights

While bookings surged, revenue recognition lagged due to the timing of project completions. Core operating profits, excluding other income, remain under pressure, underlining the importance of operational efficiency and cost management. Collections grew modestly, emphasizing the need for effective cash flow management to support ongoing project execution.

Analysts view the quarter as a positive signal for residential demand, particularly in India’s premium and mid-segment housing markets. However, converting bookings into recognized revenue and profits will be critical to sustaining growth. The company’s ability to maintain timely project deliveries while expanding its portfolio will define its performance for the rest of FY26.

Strong Quarter Financials

Net Profit: ₹402–405 crore, up 21% YoY

Sales Booking Value: ₹8,505 crore, up 64% YoY

Area Sold: 7.14 million sq ft, up 39% YoY

Revenue from Operations: Down ~32% YoY due to timing of deliveries

Growth Momentum Continues

Q2 FY26 was a promising quarter for Godrej Properties, marked by strong net profit growth, record sales bookings, and continued confidence in strategic execution. The results highlight the company’s ability to capture demand in India’s residential real estate market while managing a large and diverse project pipeline. Moving forward, timely project delivery, operational efficiency, and effective cash flow management will be key to sustaining growth and achieving FY26 targets.

With a robust pipeline, strong market presence, and continued consumer demand, Godrej Properties appears well-positioned to maintain its growth trajectory and strengthen its leadership position in India’s real estate sector.

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