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Godrej Properties Q2: Bookings Rs 8,008 Crore, Profit Falls 62%

  • by- Grihik
  • Oct 24, 2026
Godrej Properties booked Rs 8,008 crore in Q2 FY27, with collections up 31%, but profit fell 62% to Rs 154 crore. Shares dropped about 4%.
Godrej Properties Q2: Bookings Rs 8,008 Crore, Profit Falls 62%

Godrej Properties reported a booking value of Rs 8,008 crore for July-September 2026, the seventh straight quarter above Rs 7,000 crore, but consolidated net profit fell 62% to Rs 154 crore from Rs 405 crore a year earlier. The results came on Friday, October 23.

What are the headline numbers?

  • Bookings: Rs 8,008 crore from 3,658 homes covering 6.2 million sq ft, down 6% from a year ago and 7% from Q1

  • First half: Rs 16,659 crore, up 7% and the highest first-half bookings in the company's history

  • Collections: Rs 5,318 crore, up 31% year on year and 22% from Q1

  • Operating cash flow: Rs 1,584 crore

  • Profit: Rs 154 crore, with a net margin of 6.0% against 21.7% a year earlier; first-half profit fell 50% to Rs 504 crore

  • EBITDA: Rs 171 crore, down 72%, with the margin at 6.6% against 32.9%

What is "sustenance sales" and why does it matter?

Sustenance sales are bookings from projects launched earlier. They made up 63% of Q2 bookings, at Rs 5,054 crore, up 83% from last year and 43% from Q1. Chairman Pirojsha Godrej said that while headline earnings and bookings look muted, Q2 was a very strong operating quarter. Top sellers included Godrej Crown Residences in Noida (Rs 1,036 crore) and Godrej Brooklyn Avenue in Hyderabad (Rs 727 crore).

 

 

Why did profit fall so much?

Profit under accounting rules depends on revenue recognised as projects progress, not on bookings. A quarter with fewer large launches and higher costs can look weak on profit even as cash flow is strong.

What is the outlook?

Management expects FY27 bookings to grow 15% to 20%, and second-half bookings of Rs 22,500 to Rs 25,000 crore, backed by about Rs 32,000 crore of launches. Added to the first half, that implies roughly Rs 39,000 to Rs 42,000 crore for the year (our arithmetic). Q2 added one project worth about Rs 6,000 crore, taking first-half business additions to Rs 15,500 crore. Net debt was Rs 7,908 crore, or 0.41 times equity.

How did the market react?

Shares fell as much as 6% to Rs 1,468 during the day and were down about 4% at Rs 1,500 mid-afternoon, with a market value of about Rs 45,200 crore. This is information, not investment advice.