Godrej Properties Targets Rs 200 bn Cash Flow By March 2028

Godrej Properties Ltd said it will generate Rs 200 billion (Rs 200 bn) of operating cash flow between the current and the next fiscal to March 2028, enabling continued investment in business expansion. The executive chair told PTI that operating cash flow, while weak in the June quarter, is set to expand rapidly over the next seven quarters. That expansion is expected to provide capacity to invest for growth and aim for free cash flow positivity next year.

Sales bookings rose 22 per cent to Rs 86.51 bn in the April to June quarter, marking the sixth consecutive quarter with more than Rs 70 bn in booking values. The company sold 3,738 units with a total area of 6.2 million square feet (6.2 mn sq ft) during the quarter. Management indicated it is on track to meet or exceed guidance across sales bookings, launches, collections and land acquisition and reaffirmed a target return on equity of 20 per cent for the next fiscal.

Spending on construction and related activities rose 54 per cent year on year to Rs 22.44 bn in the first quarter as the developer ramped up execution capabilities. The company delivered 12.1 mn sq ft in 2025-26 and has set a target to deliver 13.5 mn sq ft in 2026-27. The June quarter remained weak for deliveries with 0.9 mn sq ft completed, but management maintained the annual delivery target.

The firm reported consolidated net profit of Rs 3.49 bn for the quarter ended June, a decline of 42 per cent on lower income, and total income fell to Rs 13.45 bn from Rs 16.20 bn a year earlier owing to limited revenue recognition due to fewer deliveries. The developer sold properties worth Rs 341.71 bn in 2025-26 and has set a sales bookings target of Rs 390 bn for the current fiscal. Since fiscal 2018 it has delivered 79 mn sq ft and holds 258 mn sq ft of developable area, focusing on five cities.

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