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Godrej Properties
SectorRealty
Godrej Properties Ltd is a leading real estate development company in India, part of the Godrej Group. The company focuses on developing residential, commercial, retail, and IT projects across major cities including Mumbai, Pune, Bangalore, Kolkata, and Hyderabad. Established in 1990, Godrej Properties is involved in all aspects of real estate development, from project planning to execution. The company operates primarily in four regions: Mumbai Metropolitan Region, National Capital Region, Pune, and Bangalore. As of March 2022, Godrej Properties had 84 current and upcoming projects with a total saleable area of 190 million square feet. The company is known for its integrated township developments, commercial complexes, and residential projects under the Godrej brand. It has expanded its presence through joint ventures, development management agreements, and strategic land acquisitions in various cities across India.
In the news
BMC, Godrej Properties launch first phase of Bandra Bay promenade
Godrej Properties challenges MoEFCC revocation of Godrej Eternia clearance
Godrej-MICL Marine Lines: A ₹6,000 Crore Partnership Redefining Mumbai Luxury
Godrej's Marine Lines Gamble: Luxury Strategy Meets Market Skepticism
Godrej Properties secures ₹6,000 cr Marine Lines luxury project
Godrej Properties opens 24-mtr government road near Godrej Aristocrat
Godrej Properties shares fall 7% on ₹70 crore Gurugram project settlement
Realty sector rout: Nifty Realty index tanks 4.5% on rate hike fears
NCDRC grants 6% interest for delayed flat possession
India's Real Estate Paradox: Rising Prices, Falling Sales
Godrej Properties Shares Fall 2.06% Amid Mixed Q1 Results
Godrej Properties wins 4.95-acre Noida land parcel for ₹2,000 cr project
RailTel Secures ₹107.60 Cr Order from Mahanadi Coalfields
Godrej Properties gains 2.45% on ₹500 cr Chennai land acquisition
Godrej Properties gains 0.99% after selling ₹2,000+ crore homes in Bengaluru
Top 10 stocks rated 'Buy' with 19-68% returns potential
Godrej Properties acquires 23-acre Greater Noida land for ₹500 cr
Godrej Properties' ₹7,000 Crore Bet: Inside the DMIC Township Strategy
Godrej Properties wins 23.2-acre Greater Noida land bid for ₹7,000 cr
Godrej-Tata Partnership for ₹1,100 Cr Gurgaon Luxury Homes
The Quarter story
The two most recent quarterly results, compared side-by-side.
Godrej Properties shows strong booking momentum and margin recovery, though rising net debt and heavy construction spend warrant monitoring.
Booking value grew from ₹7,082 Cr to ₹8,651 Cr from Q1 FY26 to Q1 FY27, confirming a robust revenue pipeline.
Net debt climbed from ₹4,637 Cr to ₹7,637 Cr from Q1 FY26 to Q1 FY27, indicating rising leverage.
EBITDA margin recovered from 33.2% to 40.8% from Q3 FY26 to Q1 FY27, showing improved profitability.
Construction outflow deepened from -₹1,458 Cr to -₹2,244 Cr from Q1 FY26 to Q1 FY27, signaling heavy project execution spend.
Commercial area leased expanded from 3.54 sq ft to 4.39 sq ft from Q1 FY26 to Q1 FY27, strengthening recurring rental income.
Units sold dropped from 4,231 to 3,738 from Q1 FY26 to Q1 FY27, reflecting a slowdown in unit movement.
Collections rose from ₹3,670 Cr to ₹4,348 Cr from Q1 FY26 to Q1 FY27, demonstrating strong cash conversion.
Operating cashflow fell from ₹1,062 Cr to ₹399 Cr from Q3 FY26 to Q1 FY27, showing seasonal cash generation pressure.
Gross borrowings plummeted from ₹14,036 Cr to ₹2,250 Cr from Q1 FY26 to Q1 FY27, highlighting aggressive debt reduction.
Net debt to equity ratio increased from 0.26x to 0.39x from Q1 FY26 to Q1 FY27, raising financial risk metrics.
Company insights, generated from the most recent coverage.
Because MICL had already cleared land, relocated society members and secured IOD and CC before Godrej joined, roughly 36-66 months of typical pre-construction redevelopment work was eliminated. Launch is expected within six months of the partnership, so bookings arrive far earlier than a normal South Mumbai redevelopment.
Godrej runs marketing and sales at roughly 4% of sales value against an industry 5-10%. On a ₹6,000 Cr project that is ₹240 Cr versus ₹300-600 Cr for a peer — the pan-India marketing infrastructure is a genuine cost moat, not just a brand story.
Godrej is only #2 by sales value in Mumbai with a 3.5-5% share, and management openly calls itself dissatisfied with historical progress there. The double-digit long-term target means Mumbai is the swing factor in the whole growth story, not a steady contributor.