Highest ever Q1 sales for GPL – Total booking value grew 407% YoY to INR
2,520 crore
Mumbai booking value crossed 1,000 crore
Total income grew by 61% YoY to INR 375 crore in Q1 FY23
EBITDA grew by 41% YoY to INR 116 crore in Q1 FY23
Net Profit grew by 168% YoY to INR 46 crore in Q1 FY23
Mumbai, August 02, 2022: Godrej Properties Limited (GPL), a leading national real estate
developer, announced its financial results for the first quarter ended June 30, 2022.
CORPORATE HIGHLIGHTS:
Sales Highlights
Q1 FY23 witnessed total booking value of INR 2,520 crore and total booking volume
of 2.83 million sq. ft. as compared to total booking value of INR 497 crore and total
booking volume of 0.77 million sq. ft. in Q1 FY22
Business Development
Added a new project with saleable area of ~1.5 million sq. ft
Nagpur Plotted, Nagpur
Spread across 58 acres, this project will offer approximately 1.5 million sq. ft. of
plotted residential development, offering attractive plot sizes
The estimated revenue potential from the project is approximately INR 575 crore
GODREJ PROPERTIES LIMITED
CIN : L74120MH1985PLC035308
Registered and Corporate Office: Godrej One, 5th Floor, Pirojshanagar, Vikhroli (E), Eastern Express
Highway, Mumbai – 400079
It is a 100% owned project
Existing Project Update:
Godrej Tranquil Extension, MMR
GPL has extended its existing arrangements with Shivam Realty to develop a
residential group housing project at Kandivali
The site is strategically located with easy access to the Western Express Highway
offering a well-developed social and civic infrastructure with multiple schools,
hospitals, retail malls, residential and commercial spaces in close proximity
The project is an extension of Godrej Tranquil and Godrej Nest and will offer
approximately 0.7 million sq. ft. of saleable area with an estimated revenue potential
of approximately INR 1,000 crore
Post Q1 FY23 – Added a new project in MMR with a saleable area of ~1.2 lakh sq. ft
Carmichael Road, MMR
Spread across approximately 0.5 acres, the project will offer 1.2 lakh sq. ft. of luxury
residential development near Carmichael Road, an exclusive residential area in
Mumbai
The estimated revenue potential from the project is approximately INR 1,200 crore
It is a 100% owned project
Other Highlights
9 awards received in Q1 FY23
Commenting on the performance of Q1 FY2023, Mr. Pirojsha Godrej, Executive
Chairman, Godrej Properties Limited, said:
“Having delivered our highest ever Q1 bookings of 2,520 crore, we are on track to meet our
FY 23 objective of achieving 10,000 crore booking value. Despite elevated inflation and
recent interest rate hikes, the real estate sector has been exceptionally resilient. The sector
is likely to continue to strengthen in the quarters ahead and we will be focused on significant
market share gains through new project acquisitions and launches. We have a robust
launch pipeline for rest of the year which will help us build on the current momentum.”
Financial Overview (Consolidated)
Q1 FY2023 performance overview compared with Q1 FY2022
Total Income stood at INR 375 crore as compared to INR 232 crore
EBITDA stood at INR 116 crore as compared to INR 82 crore
Net Profit stood at INR 46 crore as compared to INR 17 crore
EPS # amounted to INR 1.64 as compared to INR 0.61
