Godrej Properties

Consolidated net sales (including other operating income) of Godrej Properties for the quarter ended Mar 2025 has increased 48.78% to Rs 2121.73 crore.  Sales of Real Estate segment has gone up 49.01% to Rs 2,089.79 crore (accounting for 98.49% of total sales).  Sales of Hospitality segment has gone up 34.94% to Rs 31.94 crore (accounting for 1.51% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has slumped 5.68% to Rs 566.88 crore.  PBIT of Real Estate segment fell 6.09% to Rs 560.10 crore (accounting for 98.80% of total PBIT).  PBIT of Hospitality segment rose 48.36% to Rs 6.78 crore (accounting for 1.20% of total PBIT).  

PBIT margin of Real Estate segment fell from 42.53% to 26.80%.  PBIT margin of Hospitality segment rose from 19.31% to 21.23%.  Overall PBIT margin fell from 42.14% to 26.72%.  

Operating profit margin has declined from 8.61% to 5.18%, leading to 10.42% decline in operating profit to Rs 109.96 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 81.53% to 82.57%.   Purchase of finished goods cost fell from 1.46% to 0.05%.   Employee cost decreased from 3.57% to 2.91%.   Other expenses rose from 9.75% to 12.01%.   

Other income rose 14.45% to Rs 559.33 crore.  PBIDT rose 9.45% to Rs 669.29 crore.  Provision for interest rose 46.15% to Rs 45.98 crore.  Loan funds rose to Rs 12,641.40 crore as of 31 March 2025 from Rs 10,679.29 crore as of 31 March 2024.  Inventories rose to Rs 32,927.66 crore as of 31 March 2025 from Rs 22,564.62 crore as of 31 March 2024.  Sundry debtors were higher at Rs 433.78 crore as of 31 March 2025 compared to Rs 309.60 crore as of 31 March 2024.  Cash and bank balance rose to Rs 5,385.79 crore as of 31 March 2025 from Rs 2,920.37 crore as of 31 March 2024.  Investments rose to Rs 5,951.08 crore as of 31 March 2025 from Rs 3,150.08 crore as of 31 March 2024 .  

PBDT rose 7.46% to Rs 623.31 crore.  Provision for depreciation rose 31.03% to Rs 21.07 crore.  Fixed assets increased to Rs 1,369.75 crore as of 31 March 2025 from Rs 1,247.34 crore as of 31 March 2024.  Intangible assets increased from Rs 0.07 crore to Rs 16.79 crore.  

Profit before tax grew 6.79% to Rs 602.24 crore.  Provision for tax was expense of Rs 188.44 crore, compared to Rs 122.98 crore.  Effective tax rate was 33.24% compared to 20.46%.

Net profit attributable to owners of the company decreased 18.94% to Rs 381.99 crore.  

Equity capital increased from Rs 139.02 crore as of 31 March 2024 to Rs 150.59 crore as of 31 March 2025.  Per share face Value remained same at Rs 5.00.  

Promoters' stake was 46.67% as of 31 March 2025 ,compared to 58.48% as of 31 March 2024 .  

Quarter ended March 2025 compared with Quarter ended December 2024.

Net sales (including other operating income) of Godrej Properties has increased 118.99% to Rs 2121.73 crore.  

Operating profit margin has jumped from 2.84% to 5.18%, leading to 299.13% rise in operating profit to Rs 109.96 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 87.17% to 82.57%.   Purchase of finished goods cost rose from 0.04% to 0.05%.   Employee cost decreased from 2.94% to 2.91%.   Other expenses rose from 9.14% to 12.01%.   

Other income rose 106.33% to Rs 559.33 crore.  PBIDT rose 124.11% to Rs 669.29 crore.  Provision for interest rose 8.42% to Rs 45.98 crore.  Loan funds remained nil.  

PBDT rose 143.26% to Rs 623.31 crore.  Provision for depreciation rose 19.11% to Rs 21.07 crore.  Profit before tax grew 152.47% to Rs 602.24 crore.  Share of profit/loss was 93.44% lower at Rs -35.36 crore.  Provision for tax was expense of Rs 188.44 crore, compared to Rs 62.06 crore.  Effective tax rate was 33.24% compared to 28.18%.Minority interest increased 20.05% to Rs -3.55 crore.  Net profit attributable to owners of the company increased 134.87% to Rs 381.99 crore.  

Promoters' stake was 46.67% as of 31 March 2025 ,compared to 46.50% as of 31 December 2024 .  

Full year results analysis.

Net sales (including other operating income) of Godrej Properties has increased 62.17% to Rs 4922.84 crore.  Sales of Real Estate segment has gone up 60.79% to Rs 4,815.55 crore (accounting for 97.82% of total sales).  Sales of Hospitality segment has gone up 163.87% to Rs 107.29 crore (accounting for 2.18% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 72.26% to Rs 1,722.62 crore.  PBIT of Real Estate segment rose 70.81% to Rs 1,707.21 crore (accounting for 99.11% of total PBIT).  PBIT of Hospitality segment rose 2,921.57% to Rs 15.41 crore (accounting for 0.89% of total PBIT).  

PBIT margin of Real Estate segment rose from 33.37% to 35.45%.  PBIT margin of Hospitality segment rose from 1.25% to 14.36%.  Overall PBIT margin rose from 32.94% to 34.99%.  

Operating profit margin (OPM) has turned from negative 4.27% to positive 0.90%, Operating profit for the quarter stood at Rs 44.36 crore compared to loss of Rs 129.68 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 82.84% to 85.04%.   Purchase of finished goods cost fell from 2.17% to 0.14%.   Employee cost decreased from 4.04% to 3.34%.   Other expenses fell from 12.52% to 11.15%.   

Other income rose 57.42% to Rs 2044.21 crore.  PBIDT rose 78.68% to Rs 2088.57 crore.  Provision for interest rose 14.19% to Rs 173.69 crore.  Loan funds rose to Rs 12,641.40 crore as of 31 March 2025 from Rs 10,679.29 crore as of 31 March 2024.  Inventories rose to Rs 32,927.66 crore as of 31 March 2025 from Rs 22,564.62 crore as of 31 March 2024.  Sundry debtors were higher at Rs 433.78 crore as of 31 March 2025 compared to Rs 309.60 crore as of 31 March 2024.  Cash and bank balance rose to Rs 5,385.79 crore as of 31 March 2025 from Rs 2,920.37 crore as of 31 March 2024.  Investments rose to Rs 5,951.08 crore as of 31 March 2025 from Rs 3,150.08 crore as of 31 March 2024 .  

PBDT rose 88.32% to Rs 1914.88 crore.  Provision for depreciation rose 65.31% to Rs 73.66 crore.  Fixed assets increased to Rs 1,369.75 crore as of 31 March 2025 from Rs 1,247.34 crore as of 31 March 2024.  Intangible assets increased from Rs 0.07 crore to Rs 16.79 crore.  

Profit before tax grew 89.38% to Rs 1,841.22 crore.  Provision for tax was expense of Rs 333.39 crore, compared to Rs 252.93 crore.  Effective tax rate was 19.35% compared to 25.29%.

Net profit attributable to owners of the company increased 93.02% to Rs 1,399.89 crore.  

Equity capital increased from Rs 139.02 crore as of 31 March 2024 to Rs 150.59 crore as of 31 March 2025.  Per share face Value remained same at Rs 5.00.  

Promoters' stake was 46.67% as of 31 March 2025 ,compared to 58.48% as of 31 March 2024 .  

Cash flow from operating activities decreased to negative Rs -2,242.38 crore for year ended March 2025 from negative Rs -692.57 crore for year ended March 2024.  Cash flow used in acquiring fixed assets during the year ended March 2025 stood at Rs 211.53 crore, compared to Rs 695.25 crore during the year ended March 2024.  

Godrej Properties : Consolidated Results

Quarter ended Year ended Particulars 202503 202403 Var.(%) 202503 202403 Var.(%) Net Sales (including other operating income) 2,121.73 1,426.09 48.78 4,922.84 3,035.62 62.17 OPM (%) 5.18 8.61 -342 bps 0.90 -4.27 517 bps OP 109.96 122.75 -10.42 44.36 -129.68 LP Other Inc. 559.33 488.73 14.45 2,044.21 1,298.60 57.42 PBIDT 669.29 611.48 9.45 2,088.57 1,168.92 78.68 Interest 45.98 31.46 46.15 173.69 152.11 14.19 PBDT 623.31 580.02 7.46 1,914.88 1,016.81 88.32 Depreciation 21.07 16.08 31.03 73.66 44.56 65.31 PBT 602.24 563.94 6.79 1841.22 972.25 89.38 Share of Profit/(Loss) from Associates -35.36 37.05 PL -118.6 27.74 PL PBT before EO 566.88 600.99 -5.68 1722.62 999.99 72.26 EO Income 0 0 - 0 0 - PBT after EO 566.88 600.99 -5.68 1722.62 999.99 72.26 Taxation 188.44 122.98 53.23 333.39 252.93 31.81 PAT 378.44 478.01 -20.83 1389.23 747.06 85.96 Minority Interest (MI) -3.55 6.75 LP -10.66 21.79 LP Net profit 381.99 471.26 -18.94 1399.89 725.27 93.02 P/(L) from discontinued operations net of tax 0 0 - 0 0 - Net profit after discontinued operations 381.99 471.26 -18.94 1399.89 725.27 93.02 EPS (Rs)* 12.68 15.65 -18.94 46.48 24.08 93.02 * EPS is on current equity of Rs 150.59 crore, Face value of Rs 5, Excluding extraordinary items. # EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database

Godrej Properties : Consolidated Segment Results

Quarter ended Year ended % of (Total) 202503 202403 Var.(%) % of (Total) 202503 202403 Var.(%) Sales Real Estate 98.49 2,089.79 1,402.42 49.01 97.82 4,815.55 2,994.96 60.79 Hospitality 1.51 31.94 23.67 34.94 2.18 107.29 40.66 163.87 Total Reported Sales 100.00 2,121.73 1,426.09 48.78 100.00 4,922.84 3,035.62 62.17 Less: Inter segment revenues   0.00 0.00 -   0.00 0.00 - Net Sales 100.00 2,121.73 1,426.09 48.78 100.00 4,922.84 3,035.62 62.17 PBIT Real Estate 98.80 560.10 596.42 -6.09 99.11 1,707.21 999.48 70.81 Hospitality 1.20 6.78 4.57 48.36 0.89 15.41 0.51 2,921.57 Total PBIT 100.00 566.88 600.99 -5.68 100.00 1,722.62 999.99 72.26 Less : Interest 0.00 0.00 - 0.00 0.00 - Add: Other un-allcoable 0.00 0.00 - 0.00 0.00 - PBIT Margin(%) Real Estate   26.80 42.53 -1,572.62   35.45 33.37 208.00 Hospitality   21.23 19.31 192.02   14.36 1.25 1,310.86 PBT 100.00 566.88 600.99 -5.68 100.00 1,722.62 999.99 72.26