{"id":107328,"date":"2023-08-17T16:21:31","date_gmt":"2023-08-17T10:51:31","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=107328"},"modified":"2023-08-17T16:21:33","modified_gmt":"2023-08-17T10:51:33","slug":"godrej-properties-rises-45-qoq-company-states-a-robust-pipeline-of-launches-are-underway","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/godrej-properties-rises-45-qoq-company-states-a-robust-pipeline-of-launches-are-underway\/","title":{"rendered":"Godrej Properties Rises 45% QoQ; Company States a Robust Pipeline of Launches are Underway\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-445141057\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Godrej Properties&#8217; net debt rose 45% QoQ in Q1 \u201824 to Rs 5,298 crore and debt-equity ratio stands at 0.56. owing to aggressive land purchase across major cities, stated an investor presentation.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1857593645\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Since April last year, Godrej Properties has been aggressive in new business development under which the company is purchasing land outright and also entering into joint development agreements (JDAs) with landowners to create a pipeline for future development. It focuses on Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru markets.<\/p><p>Enthused by strong housing demand, the company acquired 18 land parcels last fiscal year for development of new projects with an estimated sales potential of Rs 32,000 crore. It purchased four new land parcels with an estimated saleable area of 3.7 million square feet and expected booking value of Rs 6,450 crore between April-July period of this fiscal.<\/p><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/GODREJPROP\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Godrej properties<\/a><\/strong> Chairman stated that we can see increases in the coming quarters and the launches are expected to happen in the current fiscal. He also said that they are expecting strong cash flows. Earlier this month, he had said the company&#8217;s sales performance remained muted in April-June, but the company will meet the annual target to sell properties worth Rs 14,000 crore this fiscal.<\/p><div class=\"trade-content_5\" id=\"trade-474119385\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Godrej Properties&#8217; sale bookings fell 11% year-on-year during the first quarter of 2023-24 to Rs 2,254 crore. The chairman exuded confidence that the company will achieve &#8220;healthy growth&#8221; in sale bookings during the remaining three quarters and iterated his guidance on deliveries being 12.5 million sq ft. .<\/p><p>Chairman Pirojsha said the company would achieve or even better the annual sales guidance of Rs 14,000 crore in FY24 against Rs 12,232 crore in FY23. Godrej Properties launched very few residential projects during the first quarter of FY24 and the bulk of bookings came from the ongoing projects.<\/p><p>On the financial performance front, the company recently reported a nearly three-fold jump in consolidated net profit to Rs 124.94 crore for the first quarter as against Rs 45.55 crore in the year-ago period. Total income rose to Rs 1,265.98 crore in April-June 2023-24 from Rs 426.40 crore in the corresponding period of the previous year.<\/p><div class=\"trade-after-content\" id=\"trade-298793204\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Godrej Properties&#8217; net debt rose 45% QoQ in Q1 \u201824 to Rs 5,298 crore and debt-equity ratio stands at 0.56. owing to aggressive land purchase across major cities, stated an investor presentation.&nbsp; Since April last year, Godrej Properties has been aggressive in new business development under which the company is purchasing land outright and also [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":23225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-107328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Godrej Properties Rises 45% QoQ; 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