Mumbai, Oct 23 (IANS) Godrej Properties Limited on Friday reported a 62 per cent year-on-year (YoY) decline in net profit to Rs 154 crore for the quarter ended September 2026 (Q2 FY27), compared to Rs 405 crore in the corresponding period last financial year (Q2 FY26).

The Mumbai-based real estate developer's revenue, however, surged to Rs 1,935 crore during the quarter, compared with Rs 740 crore in the year-ago period, according to its stock exchange filing.

Godrej Properties continued to report an operating loss at the EBITDA level, though the loss narrowed to Rs 469 crore from Rs 513 crore a year earlier.

Other income declined 47.4 per cent year-on-year to Rs 636.6 crore from Rs 1,209.7 crore, weighing on the company's profitability during the quarter.

“Our launch pipeline has never been stronger and with launches picking up substantially from this month onwards, we remain confident of surpassing our full year guidance across all key operating metrics," Pirojsha Godrej, Chairperson, Godrej Properties Limited, said.

"We remain extremely excited about the opportunity ahead and will seek to continue to gain market share through outstanding design, timely delivery, and high quality developments,” he noted.

Despite the sharp fall in earnings, operational performance remained robust. Collections during the September quarter rose 31 per cent year-on-year and 22 per cent sequentially to a record Rs 5,318 crore, driven by healthy demand across key projects.

In its investor presentation, the company said it is on track to exceed its annual collections guidance of Rs 24,000 crore for the current financial year after reporting its highest-ever collections in both the second quarter and the first half.

Collections for the first six months of the fiscal stood at Rs 9,666 crore. The developer expects to generate collections of around Rs 15,000 crore in the second half, which would take the full-year figure beyond its stated target.

The company's operating cash flow also witnessed strong growth during the quarter, increasing 297 per cent sequentially and 33 per cent from a year earlier to Rs 1,584 crore. For the first half of FY27, operating cash flow stood at Rs 1,983 crore.

--IANS

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