In addition to reporting highest-ever quarterly collections of INR 3,822 Crore for Q4 FY23, which climbed by 127% QoQ and 52% YoY, Godrej Properties also recorded highest-ever quarterly net operating cashflow for Q4 FY23 of over INR 2,200 crore.
The company's highest ever quarterly sales - booking value stood at INR 4,051 crore from 5.25 million sq. ft and 12 new project and phase launches during the quarter across 6 cities during Q4FY23. The company added 5 new residential projects across 4 cities with an estimated booking value of INR 5,750 crore and quarterly delivery reached, aggregating ~8 million sq. ft. across 5 cities during Q4FY23.
The company reported a net income of ₹1,930 Cr up by 31% YoY from ₹1,476 Cr during Q4FY22. Godrej Properties said its EBITDA surged 56% YoY from ₹403 Cr during Q4FY22 to ₹630 Cr during Q4FY23. The company reported a profit before tax (PBT) of ₹570 during the quarter under review up by 61% YoY from ₹354 Cr during the year-ago quarter.
The firm said that it expanded its business by adding 18 projects with a combined anticipated booking value of INR 32,000 crore. The company also reported that its quarterly and annual sales - booking value amounted at INR 4,051 crore in Q4 FY23, up 25% YoY and QoQ, and rose 56% to INR 12,232 crore for FY23. The net profit of Godrej Properties reached ₹412 Cr during Q4FY32, up by 58% YoY from ₹260 Cr during Q4FY22.
Commenting on the performance of Q4 FY2023, Mr. Pirojsha Godrej, Executive Chairperson, Godrej Properties Limited, said “Residential real estate demand in India has been strong throughout FY 23 and leading developers have benefited from both sectoral growth as well as market share gains. Godrej Properties delivered a well-rounded performance in FY 23 registering its best ever business development, bookings, cash collections, earnings, and deliveries. With a robust launch pipeline, strong balance sheet, and sectoral tailwinds, we are confident of building on this momentum in FY24."
Godrej Properties reports 58% PAT growth in Q4, booking value stood at ₹4051 Cr - Mint
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