Godrej Properties Ltd(GODREJPROP)

NSE: GODREJPROPBSE: 533150

₹ 1,497.9-4.23%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 45,121 crWebsite: www.godrejproperties.comUpdated: 24 Oct 2026

About

Godrej Properties Ltd is a listed Indian residential and commercial real estate developer operating across Mumbai Metropolitan Region, NCR, Bengaluru, Pune and Hyderabad, with Hyderabad added as a fifth market in FY26. GPL held a top-2 rank among listed developers in each of India's five leading real estate markets in CY25, with market share doubling from 2.4% in CY21 to 4.8% in CY25. It reported FY26 revenue of Rs 5,131.43 Cr, and booked INR 34,171 cr of sales in FY26.^[1][2]

Business and products

Develops residential projects across mid-income, premium, luxury and ultra-luxury segments, with 114 ongoing and forthcoming projects as of FY25.^[3]
FY25 segment revenue: Real Estate 4,815.55 cr vs 2994.96 cr in FY24; Hospitality 107.29 cr vs 40.66 cr.^[3]
Customers are retail individuals; construction work is outsourced, with all workers employed by contractors and vendors (FY25).^[3]
Godrej & Boyce has appointed the company, under binding arrangements, as development manager for all its land in Vikhroli (FY25).^[3]

Pre-sales and collections

Q1 FY27 booking value: INR 8,651 cr (+22% YoY), from sale of 3,738 homes across 6.2 mn sq ft - the sixth consecutive quarter exceeding INR 7,000 cr.^[4]
FY26 full-year booking value: INR 34,171 cr (+16% YoY), 105% of guidance; FY25 booking value was ₹29,444 crore from 15,302 homes covering 25.73 million sq ft.^[1][3]
Q1 FY27 customer collections: INR 4,348 cr (+18% YoY). FY26 collections: INR 19,965 cr (+17% YoY), vs ₹17,047 crore in FY25.^[4][3]
FY27 guidance: booking value INR 39,000 cr; collections INR 24,000 cr.^[1]

Geographic mix

Q1 FY27 bookings by region: Bengaluru 44%, MMR 21%, NCR 18%, Pune 11%, Hyderabad 5%.^[4]
FY26 bookings by city: MMR INR 10,312 cr, Bengaluru INR 8,801 cr, NCR INR 7,412 cr, Pune INR 3,659 cr, Hyderabad INR 2,360 cr.^[1]
Top-2 rank among listed developers in each of MMR, NCR, Bengaluru, Pune and Hyderabad in CY25; no single market exceeded 30% of booking value.^[5]
11 projects across 6 cities each crossed INR 1,000 cr of booking value in FY26, vs 12 projects across 6 cities in FY25.^[1][3]
Entered Indore in FY25 through two plotted-development acquisitions; 2-3 more Tier-2 cities could be added via plotted development by end of FY27.^[3][4]

Key operating metrics

Q1 FY27 operating cash flow: INR 399 cr (-58% YoY); FY27 OCF guided at ~INR 9,000 cr. FY26 OCF: INR 7,830 cr (+5% YoY).^[4][1]
FY26 deliveries: 12.1 mn sq ft across 9 cities (121% of 10 mn sq ft guidance). FY27 delivery target: 13.5 mn sq ft.^[1]
Q1 FY27 construction and related outflow: INR 2,244 cr (+54% YoY), ahead of the FY28 delivery ramp.^[4]
Economic interest in booking value rose from ~50% in CY21 to 87% in CY25 through JV exits and outright acquisitions.^[5]
Net debt as of 30 Jun 2026: INR 7,637 cr; net debt/equity 0.39x, against a self-imposed cap of INR 10,000 cr and 0.5x.^[4]
Average borrowing cost in Q1 FY27: 7.15%, down from 7.25% at 31 Dec 2025 and 7.80% at the start of FY26.^[4]

Business development and land bank

Q1 FY27: 3 new projects added, ~8 mn sq ft saleable area, INR 9,500 cr expected booking value - 48% of the INR 20,000 cr FY27 BD guidance.^[4]
FY26: 18 projects added, 33.32 mn sq ft, INR 42,100 cr expected booking value, vs 14 projects, 19.02 mn sq ft and ₹26,450 crore in FY25.^[1][3]
INR 7,000 cr Greater Noida DMIC land parcel won through auction in Q1 FY27.^[4]
FY27 launch value guidance: INR 48,000 cr.^[1]

Pipeline and launches

Godrej Vanantara (Bannerghatta Road, Bengaluru) sold INR 3,237 cr in Q1 FY27; Godrej Woodscapes, Bengaluru, sold 3.97 million sq ft for ₹3,736 crore in FY25.^[4][3]
Bandra (Mumbai) and Godrej Golf Course Road Extension (Sector 63A, Gurgaon) launches targeted for Q2 or Q3 FY27.^[4]
Thane MMR project (INR 7,500 cr GDV) launch targeted for late Q3 or Q4 FY27.^[1]

Revenue recognition pipeline

Uses project-completion accounting; Q1 FY27 P&L revenue fell 16% YoY to INR 1,337 cr as only one DM-structure project completed.^[4]
16 projects/phases with ~INR 40,000 cr booking value expected to reach recognition by FY28, vs ~INR 17,000 cr recognised in FY25+FY26.^[4]
Economic interest in the FY28 recognition pipeline is ~85-90%, up from ~74% in the FY25-26 cohort.^[4]
FY27+FY28 collections expected at INR 52,000-55,000 cr; OCF over the two years guided at INR 20,000-22,000 cr.^[4]
Targets: 20% ROE in FY28; ~15% PAT margin for projects recognised in FY27-28; ~20% medium-term booking-value CAGR.^[4]

Recent developments

28 Sep 2026: development agreement signed for a 2.5-acre Marine Lines, South Mumbai parcel with estimated revenue potential of INR 6,000 cr.^[6]
Raised ₹6,000 crore via QIP at ₹2,595/share in FY25, which the company describes as the largest QIP in Indian real estate history.^[3]

Market Cap

₹45,121 Cr

High / Low

₹2,352 / 1,434

Stock P/E

28.2

Price / Book

2.4

Book Value

₹636

EPS

₹61.4

No. of Shares

30.12 Cr

ROCE

8.4%

ROE

10.2%

OPM

32.7%

Debt / Equity

0.82

Sales

₹5,131 Cr

Net Profit

₹1,841 Cr

Promoter holding

51.7%

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Godrej Properties Ltd(GODREJPROP)

About

Business and products

Pre-sales and collections

Geographic mix

Key operating metrics

Business development and land bank

Pipeline and launches

Revenue recognition pipeline

Recent developments

Signal history

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