Godrej Properties to launch Rs 32,000 cr homes

New Delhi: Godrej Properties plans to launch homes worth Rs 32,000 crore for sale in the second half of this fiscal, double than the preceding six months, as part of its strategy to expand business and cash in on strong housing demand.

The company launched Rs 16,000 crore worth residential properties during the April-September period of the 2026-27 financial year.

In an interview with PTI, Godrej Properties Chairperson Pirojsha Godrej said the company was on track to meet or exceed its annual guidance for sales bookings, collection of funds from customers, launches, land acquisition and completion of projects.

Asked about the launch pipeline for the second half of this fiscal, he said it is pretty strong across major cities. including Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, Bengaluru and Hyderabad.

During the 2025-26 fiscal, Godrej Properties launched projects worth Rs 42,200 crore for sales and set a target of Rs 48,000 crore for the current fiscal.

In the last few financial years, Godrej Properties has been the country's largest listed real estate firm in terms of sales bookings, and is set to retain the position this fiscal too.

In 2026-27, the company's sales bookings are expected to rise 22 per cent to a record Rs 41,500 crore, beating annual guidance on strong demand for its housing properties.

During the last fiscal year, the company sold properties worth Rs 34,171 crore, and set a pre-sales or sales bookings guidance of Rs 39,000 crore for the current 2026-27 fiscal.

The company's sales bookings rose 7 per cent to Rs 16,659 crore in the first six months of this fiscal from Rs 15,587 crore in the year-ago period.

Pirojsha noted that housing demand remains strong across all its projects despite global political and economic uncertainties.

"We are not seeing any of our own projects where we are disappointed with off-take or demand. I would say from a company perspective, demand has been quite strong," Pirojsha said.

On collection of funds from customers, Godrej Properties has set a target of 24,000 crore for this fiscal. In the first half, it has already collected Rs 9,666 crore.

Even on deliveries of projects, Pirojsha said the company would achieve the target of 13.5 million sq ft, despite only 3.4 million sq ft being delivered in the first half.

Godrej Properties develops group housing projects in MMR, Delhi-NCR, Pune, Bengaluru and Hyderabad. It offers housing plots in tier II and III cities.

Last month, it reported a 62 per cent decline in its consolidated net profit to Rs 154.15 crore for the quarter ended September, driven by higher expenses.

Its net profit stood at Rs 405.08 crore in the year-ago period.

Total income rose to Rs 2,571.73 crore in the second quarter of the current fiscal from Rs 1,950.05 crore in the corresponding period of the preceding financial year.

Its expenses surged to Rs 2,476.74 crore during the period under review compared to Rs 1,300.98 crore a year ago.

During the first half of this fiscal, net profit declined 50 per cent to Rs 504 crore from Rs 1,005 crore in the year-ago period, while total income grew to Rs 3,916.77 crore from Rs 3,570.39 crore.

In 2025-26, the company posted a net profit of Rs 1,850 crore on a total income of Rs 8410.88 crore.

Godrej Properties has completed projects spanning more than 80 million sq ft since 2018.