Q1 FY18 Results- Godrej Properties Limited

GPL's best ever quarter for residential sales - residential booking value of INR 1,472 Cr - 281% YoY growth in the value of sales bookings - 4 successful new project/phase launches in Mumbai, Pune & NCR - 4 new project additions

Mumbai, Maharashtra, August 9, 2017 /India PRwire/ -- Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the first quarter ended June 30, 2017.


Sales Highlights

  • Q1 FY18 witnessed total booking value of INR 1,474 crore and total booking volume of 1,799,678 sq. ft. as compared to total booking value of INR 387 crore and total booking volume of 592,715 sq. ft. in Q1 FY17
  • 4 successful new project/phase launches in Mumbai, Pune & NCR

Business Development

Added 4 new projects with ~4.9 million sq. ft. of saleable area in Q1 FY18

Sector 33 - Sohna, Gurgaon

  • Entered into a partnership to develop a residential group housing project with saleable area of 1.7 million sq. ft.
  • GPL's first project in Sohna and 8th project in NCR
  • Located 12 kms from Golf Course Extension Road and offers easy access to Gurgaon from Sohna Road

New Gurgaon, NCR

  • Entered into a partnership to develop a residential group housing project with saleable area of 1.05 million sq. ft.
  • GPL's 9th project in NCR
  • Located 5 kms from NH 8 and easily accessible via a network of main sector roads

Magadi Road, Bangalore

  • Entered into a development management agreement to develop a premium residential group housing project with saleable are of 0.6 million sq. ft.
  • GPL's first project in the micro market of West Bangalore and 13th project in Bangalore
    • Located in close proximity to the Central Business District (CBD), Race Course, Majestic and Rajarajeshwari Nagar

Sector 106, Gurgaon*

  • Acquired a land parcel measuring ~14.8 acres in Sector 106, Gurgaon for developing a high-end residential housing project with saleable area of ~1.5 million sq. ft.
  • GPL's 10th project in NCR
    • Located in an upcoming residential area in Gurgaon that is seamlessly connected to New Delhi through a 75 meter wide road
    • Project will be developed in partnership with Godrej Residential Investment Program

II. This is the fourth project under GRIP II, the ~US$ 275 million fund which was announced in March 2016

*Partnership agreement was signed in June 2017 but registration and announcement happen in the first week of July 2017

Construction Highlights

  • Delivered 1,101 apartments measuring 2 million sq. ft. across 2 cities in Q1 FY18
    • Delivered 998 apartments measuring 1.86 million sq. ft. at Godrej Summit,


  • Delivered 103 apartments measuring 0.15 million sq. ft. at Godrej Platinum, Vikhroli

Other Highlights

  • Godrej Garden City becomes the largest township in India to receive Platinum Certification under the Indian Green Building Council (IGBC) Green Residential Society Rating System
  • Partnered with Taj Hotels to develop a world class Taj brand hotel at The Trees, Vikhroli
  • 10 awards received in Q1 FY18

Commenting on the performance of Q1 FY2018, Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said:

"Our total sales for Q1 FY18 stood at Rs.1,474 crore which was our highest ever residential sales in a quarter. We also added 4 new projects to our portfolio and had one of our best ever quarters in terms of operating cash flow. We look forward to building on this momentum in the year ahead."

Financial Overview (Consolidated)

Q1 FY2018 performance overview compared with Q1 FY2017

  • Total Income increased by 3% to INR 345 crore from INR 335 crore
  • EBITDA increased by 9% to INR 78 crore from INR 71 crore
  • Net profit decreased by 46% and stood at INR 23 crore
  • EPS# amounted to INR 1.08 as compared to INR 2.0

#not annualised

Notes to Editor

About Godrej Properties Limited:

Godrej Properties brings the Godrej Group philosophy of innovation, sustainability and excellence to the real estate industry. Each Godrej Properties development combines a 120 year legacy of excellence and trust with a commitment to cutting-edge design and technology. Godrej Properties is currently developing residential, commercial and township projects spread across approximately 13.5 million square meters (138 million square feet) in 12 cities.

In the last five years, Godrej Properties has received over 200 awards and recognitions, including the "Premium Real Estate Company of the Year" at the Corporate LiveWire Awards 2017, the "Professional Excellence in Real Estate" at the ABP News Real Estate Awards 2016, the "Real Estate Company of the Year" at the Construction Week India Awards 2015, the "Most Reliable Builder" at the CNBC AWAAZ Real Estate Awards 2014, the "Innovation Leader in Real Estate" award at the NDTV Property Awards 2014, and the "Popular Choice - Developer of the Year" award at the ET NOW Awards in 2013.

Anoop Poojari / Vikram Rajput CDR India

Tel: +91 22 6645 1211/ 1223

Fax: +91 22 6645 1213

Email: anoop@cdr-india.com/ vikramr@cdr-india.com


Some of the statements in this communication may be 'forward looking statements' within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the Company's operations include changes in the industry structure, significant changes in political and economic environment in India and overseas, tax laws, import duties, litigation and labour relations.

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