Godrej Properties' Q1 PAT declines 46 pc sequentially in FY27, revenue falls 85 pc
New Delhi, Aug 4
Godrej Properties on Tuesday reported a 46 per cent quarter-on-quarter decline in consolidated net profit to Rs 350 crore in the June quarter of FY27, compared with Rs 650 crore in the preceding quarter.
The company's profit after tax (PAT) also fell 41.7 per cent year-on-year (YoY) from Rs 600 crore in the corresponding quarter of the previous fiscal.
Revenue from operations declined 85 per cent QoQ to Rs 506 crore from Rs 3,458 crore in the March quarter. However, on a YoY basis, revenue rose 16.5 per cent from Rs 435 crore in the year-ago period.
The real estate developer reported an earnings before interest, tax, depreciation and amortisation (EBITDA) loss of Rs 285 crore in Q1 FY27, compared with an EBITDA loss of Rs 243 crore in the corresponding quarter last year.
Other income declined to Rs 839 crore in the June quarter from Rs 1,186 crore a year earlier, according to the company's regulatory filing.
Moreover, the company reported a booking value of Rs 8,651 crore in Q1 FY27, up 22 per cent YoY, marking the sixth consecutive quarter in which bookings exceeded Rs 7,000 crore.
The company sold 3,738 units covering a total area of 6.2 million square feet during the quarter.
Among key markets, Bengaluru contributed the largest share of bookings at 44 per cent, followed by the Mumbai Metropolitan Region (21 per cent), the National Capital Region (18 per cent), Pune (11 per cent) and Hyderabad (5 per cent).
Apart from the earnings announcement, the company's board approved the merger of Godrej Housing Projects Ltd with Godrej Properties Ltd.
Following the results, shares of Godrej Properties fell nearly 4 per cent to an intraday low of Rs 1,992.80 on the BSE. The stock has touched a 52-week high of Rs 2,351.60 and a 52-week low of Rs 1,434.
— IANS
Reader Comments
Bengaluru driving 44% of bookings makes sense - the IT corridor is booming. But this quarterly PAT swing is scary for retail investors. My parents have invested in this stock, hoping the merger brings some stability. 🤞
EBITDA loss of Rs 285 crore is worrying. But the fact they sold 3,738 units in one quarter shows demand is still there. Property prices in Mumbai and NCR are insane though - how do young people afford these flats? 😅
Interesting to see Godrej Properties' numbers from a global perspective. The Indian real estate market's resilience is impressive - bookings over Rs 7,000 crore for six straight quarters shows structural strength despite short-term profit volatility.
My family recently booked a Godrej property in Hyderabad. The 5% booking share from that city is small but growing. Fingers crossed the merger doesn't delay our possession timeline. Real estate patience is a whole different game! 😄
Respectfully, these quarterly numbers don't tell the full picture. The 85% revenue drop is largely due to project completion timing. Bookings growth is the real indicator. But I do wish companies would provide better guidance to avoid such confusion for common investors like us.
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