Q2 2025 Godrej Properties Ltd Earnings Call Transcript
Key Points
- Godrej Properties Ltd (BOM:533150) achieved the highest Q2 and H1 collections, operating cash flows, and deliveries in its history.
- The company has already achieved 51% of its annual bookings guidance, with a 90% growth in booking value for the first half of FY25.
- Significant growth in key markets: NCR bookings grew 70%, Bengaluru 212%, and MMR 114% in the first half of FY25.
- Operating cash flow for Q2 grew by 126% year-on-year, and for the first half, it grew by 204%.
- Godrej Properties added 10 projects in FY25 with an estimated saleable area of nearly 14 million square feet and a booking value potential of about INR17,500 crore.
- Concerns about potential overheating in the real estate market, particularly in land prices and final sale conditions.
- The company faces challenges in maintaining a balance between rapid growth and sustainable land acquisition strategies.
- There is a significant amount of cash, around INR3,000 crore, tied up under RERA regulations, affecting liquidity.
- Potential delays in project approvals, particularly in markets like Bangalore, could impact future launches.
- The promoter stake may fall below 50% post-fundraise, which could affect shareholder confidence.
Ladies and gentlemen, good day, and welcome to the Godrej Properties Ltd Q2 FY25 earnings conference call. (Operator Instructions) Please note, that this conference is being recorded. I now hand the conference over to Mr. [Kshitij Jain]. Thank you and over to you, Mr. Jain.
Thank you. Good afternoon, everyone, and thank you for joining us on Godrej Properties' Q2 FY25 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 it opening remarks. Over to you.
Good afternoon, everyone. Thank you for joining us for Godrej
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