Godrej Properties’ consolidated profit after tax fell 63.9% to ₹145.47 crore in the quarter ended Sept. 30, 2026, as expenses rose faster than income, while management pointed to the timing of project deliveries.
The unaudited exchange filing, approved Oct. 23, showed total income up 31.9% to ₹2,571.73 crore from ₹1,950.05 crore. Total expenses reached ₹2,476.74 crore, compared with ₹1,300.98 crore a year earlier. The filing says prior-period figures were restated following an amalgamation.
The filing reported ₹154.15 crore in profit attributable to owners and an ₹8.68 crore loss attributable to non-controlling interests. Pirojsha Godrej, chairperson of Godrej Properties, said deliveries were weighted toward later in the year and projected better momentum, particularly in the fourth quarter.
Bombay Stock Exchange (BSE) closing prices show the shares ended at ₹1,497.90 on Oct. 23, down 4.23% for the session. From the Oct. 16 close of ₹1,602.75, they fell 6.54% over the period.
Godrej Properties reported that Q2 FY27 booking value declined about 6% year over year to ₹8,008 crore. Sales from existing projects, which the company calls sustenance sales, rose 83% to ₹5,054 crore. Collections increased 31% to ₹5,318 crore, and operating cash flow rose 33% to ₹1,584 crore. The company also said construction and related outflows increased 31% in the quarter and 42% in the first half.
For the second half of fiscal 2027 (H2 FY27), management cited a ₹32,000 crore launch pipeline and estimated bookings of ₹22,500 crore to ₹25,000 crore. The company expects H2 collections of ₹15,000 crore and operating cash flow of ₹7,000 crore. It also expects positive free cash flow and a reported return on equity of 20% in FY28. These are company expectations; the operating test is whether launches translate into bookings and cash on that timetable.
Siddharth Maurya, founder and managing director of Vibhavangal Anukulakara Pvt. Ltd., told LiveMint that costs and near-term earnings growth warranted caution. He saw bookings, collections and upcoming launches as supportive factors.
