Godrej Properties Ltd Announces its Consolidated Financials for Q4 FY23 Results
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Mumbai, May 03, 2023: Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the fourthquarterended March 31, 2023.
CORPORATE HIGHLIGHTS:
Sales Highlights
* Q4 FY23 witnessed total booking value growth of 25% YoY and QoQto INR 4,051crore with 5.25 million sq. ft. of area sold during the quarter
* FY22 booking value grew by 56% to INR 12,232 crore on back of both an improving project mix as well as strong volume growth of 40% to15.21 million sq. ft.
* Became the only developer to achieve a booking value of more than INR 2,000 Crore in a year across each of the 4 large markets of NCR, MMR, Bengaluru and Pune.
Business Development
Added 5 new projects with a total estimated saleable area of nearly 9 million sq. ft. and total estimated booking value of ~INR 5,750 Crore in Q4 FY23
For FY23, added 18 new projects with an estimated revenue potential of ~INR 32,000 crore,more than double the BD guidance of INR 15,000 Crore of estimated booking value for FY23.
Other Highlights
* Highest ever collection of INR 3,822crore for Q4FY23 and INR 8,991 crores for FY23 leading to net operating cash flow growth of 115% YoY toINR 2,245crorein Q4 FY23 and101% to INR 3,533croresin FY23
* Delivered ~8million sq. ft. across 5 cities in Q4 FY23 taking overall deliveries for FY23 to ~10.5miilion sq. ft.
* GPL received 17 awards in Q4 FY23and a total of 91 awards in FY23
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.”
Financial Overview (Consolidated)
Q4 FY23 performance overview compared with Q4 FY22
* Total Income grew by 31% to INR 1,930crore as compared to INR 1,476 crore
* EBITDA grew by 56% to INR 630crore as compared to INR 403 crore
* Net Profit grew by 58% to INR 412crore as compared to INR 260 crore
* EPS# amounted to INR 14.82as compared to INR9.37
FY2023 performance overview compared with FY2022
* Total Income grew by 25% to INR 2,998crore as compared to INR 2,397 crore
* EBITDA grew by 41% to INR 994crore as compared to INR 705 crore
* Net Profit grew by 62% to INR 571 crore as compared to INR 352 crore
* EPS amounted to INR 20.55as compared to INR 12.68
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