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Earnings Call Transcript

Godrej Properties Earnings Call Transcript: Key Takeaways

Management is banking on a massive second-half launch pipeline to mask Q2 de-growth in bookings. While collections are strong, earnings quality is currently distorted by project exit accounting and back-ended delivery schedules.

Guidance and delivery
Management target Net Profit 20.0% FY28
Highlights
Revenue growthTotal income grew 38% YoY to ₹2,575 Cr in Q2.
MarginsReported margins pressured by back-ended deliveries; aiming for 15% PAT margins.
Order bookBookings value ₹8,008 Cr in Q2; targeting record full-year performance.
Demand visibilityStrong; sustained sales growth of 83% in existing projects.
Management confidenceHighly optimistic, emphasizing a 'blockbuster' H2 launch pipeline of ₹32,000 Cr.

Growth

H1 FY27 bookings grew 7% to ₹16,659 Cr, though Q2 alone saw a slight year-on-year value dip.

Outlook

Management expects ₹15,000 Cr cash collections and ₹7,000 Cr operating cash flow in H2 FY27.

Risks

Heavy reliance on Q3/Q4 approvals; construction bans in NCR/Mumbai could derail aggressive H2 delivery and cashflow targets.

Source

Earnings Call Transcript filed with NSE, NSE: GODREJPROP. Summary written with AI assistance from the document.

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Godrej Properties Ltd: key numbers

Share price
₹1,587.00
Market cap
₹47,805 Cr
Revenue (annual)
₹5,131 Cr
Net profit (annual)
₹1,850 Cr
P/E (TTM)
35.4×Sector 34.0×
Promoter holding
51.66%+0.00% QoQ
FII holding
24.37%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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