Q1 2025 Godrej Properties Ltd Earnings Call Transcript
Key Points
- Godrej Properties Ltd (BOM:533150) achieved its highest ever net profit in Q1 FY25, amounting to INR 520 crores.
- Booking value grew by 283% to INR 8,637 crores, marking the highest quarterly booking value and volume across listed developers in India for the second consecutive quarter.
- Net operating cash flow grew 737% to INR 988 crores, supported by a 54% increase in collections to INR 3,012 crores.
- The company added two group housing projects in Pune and Bengaluru with an estimated booking value of INR 3,000 crores in Q1.
- Total income for Q1 increased by 25% to INR 1,638 crores, and EBITDA increased by 237% to INR 774 crores.
- There are concerns about potential delays in project approvals in Pune and Mumbai due to upcoming elections.
- The Ashok Vihar project in NCR continues to face delays due to issues related to tree removal and court matters.
- The company has a high gearing level of 71%, raising questions about future capital allocation and potential equity raises.
- There are risks associated with the volatility in quarterly customer collections, which can impact cash flow predictability.
- Concerns were raised about the potential impact of delays on underlying IRRs, although price appreciation may offset some of these effects.
Ladies and gentlemen, good day, and welcome to the Godrej Properties Limited Q1 FY25 Earnings 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.
.Thank you. Good afternoon, everyone, and thank you for joining us on Godrej Properties Q1 FY 25 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, everyone. Thank
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