Godrej Properties gains after its booking value rises 3% in Q2 FY25
Godrej Properties is currently trading at Rs. 2904.80, up by 7.10 points or 0.25% from its previous closing of Rs. 2897.70 on the BSE.
The scrip opened at Rs. 2930.00 and has touched a high and low of Rs. 2978.40 and Rs. 2870.00 respectively. So far 24715 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 3400.00 on 16-Jul-2024 and a 52 week low of Rs. 1548.00 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 3277.35 and Rs. 2870.00 respectively. The current market cap of the company is Rs. 81290.07 crore.
The promoters holding in the company stood at 58.48%, while Institutions and Non-Institutions held 35.54% and 5.98% respectively.
Godrej Properties’ Q2 FY25 booking value grew 3% year-on-year (YoY) to nearly Rs 5,200 crore from sale of over 5.1 million sq. ft. This is the highest ever Q2 booking value achieved by the company.
H1 FY25 booking value grew over 89% YoY to over Rs 13,800 crore. This was achieved through the sale of over 8,600 homes with a total area of over 14 million sq. ft. This is the highest ever H1 booking value achieved by Godrej Properties.
The company has achieved 51% of its annual guidance for booking value for FY25. In the past 5 financial years, the company has averaged 37% of its full year sales in the first half of the financial year. Sales in Q2 FY25 were driven by strong demand in some key new project launches including Godrej Vrikshya in NCR, which delivered a booking value of nearly Rs 1,500 crore and Godrej Woodside Estate in MMR, a plotted development project, which delivered a booking value of more than Rs 600 crore.
Q2 FY25 collections stood at over Rs 4,000 crore representing a YoY growth of 68% and H1 FY25 collections stood at over Rs 7,000 crore representing a YoY growth of 62%. This is the highest Q2 and H1 collections achieved by Godrej properties respectively. The company has achieved 47% of its annual guidance for collections for FY25.
Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.
