Q4 2024 Godrej Properties Ltd Earnings Call Transcript
Key Points
- Godrej Properties Ltd (BOM:533150) achieved its highest-ever quarterly and annual sales, with booking values for Q4 standing at INR 9,519 crores, up 135% year-on-year.
- The company recorded its highest-ever cash collections and net operating cash flow, with collections at INR 4,693 crores for Q4 and INR 11,436 crores for the full year.
- Godrej Properties Ltd (BOM:533150) reduced net debt by over INR 700 crores in Q4 despite strong business development investment.
- The company entered the Hyderabad market with two land deals, adding an estimated booking value potential of nearly INR 5,000 crores.
- Godrej Properties Ltd (BOM:533150) provided strong guidance for FY '25, aiming to grow residential bookings by over 20% to INR 27,000 crores.
- The company faces execution risk, as indicated by the need to present a range of potential outcomes in their pro forma P&L.
- There is a dependency on market conditions for achieving the projected growth, particularly in NCR and Mumbai.
- The family settlement agreement introduces some uncertainty regarding the future use of the Godrej brand and potential competition from Godrej & Boyce.
- The company's business development guidance of INR 20,000 crores for the next year may be seen as conservative given the current market conditions.
- There is a significant reliance on new project launches to meet the ambitious sales targets, which could be impacted by delays in approvals or market reception.
Ladies and gentlemen, good day, and welcome to the Godrej Properties Limited Q4 FY '24 Conference Call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Kshitij Jain from Godrej Properties. Thank you, and over to you.
Good afternoon, everyone, and thank you for joining us on Godrej Properties Q4 FY '24 Results Conference Call.
We have with us Mr. Pirojsha Godrej, Executive Chairperson; Mr. Gaurav Pandey, Managing Director and CEO; and Mr. Rajendra Khetawat, CFO of the company.
Before we begin this call, I would like to point out that some statements made in today's call may be forward-looking in nature, and a disclaimer to this effect has been included in the results presentation.
I would now like to invite Mr. Godrej to make his opening remarks. Over to you, sir.
Good afternoon,
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