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  • Godrej Properties Ltd.’s Consolidated Financials for Q4 FY22 Results

    Published on May 3, 2022

    • GPL’s best ever quarter for sales – booking value stood at INR 3,248 crore in Q4 FY22, up 23% YoY and 111% QoQ
    • Booking value grew by 17% to INR 7,861 crore in FY22
    • Highest ever quarterly and annual residential collections with INR 2,678 crore residential collections in Q4 FY22 and INR 6,907 crore in FY22
    • Highest ever quarterly and annual net profit of INR 260 crore and INR 352 crore for Q4 FY22 and FY22, respectively

    Mumbai : Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the fourth quarter ended March 31, 2022.

    CORPORATE HIGHLIGHTS:

    Sales Highlights

    • Q4 FY22 witnessed total booking value growth of 23% YoY and 111% QoQ to INR 3,248 crore with 4.24 million sq. ft. of area sold during the quarter
    • FY22 booking value grew by 17% to INR 7,861 crore through total sales of 10.84 million sq. ft.

    Business Development

    Added 3 new projects with saleable area of ~6.1 million sq. ft. in Q4 FY22

    Sonipat, NCR

    • The project acquisition marks GPL’s entry in Sonipat. The site is strategically located, with good connectivity to the Delhi border and national highways and in close proximity to the upcoming educational and industrial hub of Sonipat and offers a well-developed social infrastructure
    • Spread across 50 acres, this project will offer approximately 1.0 million sq. ft. of plotted residential development, offering attractive plot sizes along with exceptional lifestyle amenities
    • The estimated revenue potential from the project is approximately INR 750 crore
    • GPL’s economic interest is 51% of profit

    Bannerghatta Road, Bangalore

    • The project is an outright purchase of land in the residential micro-market of Bannerghatta Road in South Bangalore
    • The site is strategically located, with excellent connectivity to the Bannerghatta Main Road and the IT/ITES belt in Electronic City and offers an extremely well-developed social and civic infrastructure with multiple schools, hospitals, retail, residential, and commercial spaces in close proximity
    • Spread over 33 acres, the project will offer approximately 3.4 million sq. ft. of saleable area with an estimated revenue potential of approximately INR 2,000 crore
    • It is a 100% owned project with 4.8% area share to land owner

    Pimpri-Chinchwad, Pune

    • The project is an outright purchase of land in the residential micro-market of Pimpri-Chinchwad in Pune and has excellent connectivity to all major social and commercial hubs of the city
    • Spread over 9 acres, the group housing project will offer approximately 1.7 million sq. ft. of saleable area with an estimated revenue potential of approximately INR 1,400 crore
    • It is a 100% owned project

    Other Highlights

    • Highest ever quarterly collection of INR 2,678 crore leading to net operating cash flow of INR 1,045 crore in Q4 FY22
    • Delivered ~5.8 million sq. ft. across 5 cities in Q4 FY22
    • GPL received 39 awards in Q4 FY22 and a total of 114 awards in FY22

    Commenting on the performance of Q4 FY2022, Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said:

    “The real estate sector has strengthened during FY22 and we expect strong growth for the sector over the next few years. We are pleased to close the financial year with our best ever annual sales, cash collections, and earnings. With a robust launch pipeline, strong balance sheet and sectoral tailwinds, we look forward to building on this momentum in FY23.”

    Financial Overview (Consolidated)

    Q4 FY22 performance overview compared with Q4 FY21

    • Total Income grew by 191% to INR 1,476 crore as compared to INR 508 crore
    • EBITDA grew to INR 403 crore as compared to INR (79) crore
    • Net Profit grew to 260 crore as compared to INR (192) crore
    • EPS# amounted to INR 9.37 as compared to INR (-7.57)

    FY2022 performance overview compared with FY2021

    • Total Income grew by 97% to INR 2,397 crore as compared to INR 1,217 crore
    • EBITDA grew by 494% to INR 705 crore as compared to INR 119 crore
    • Net Profit grew to INR 352 crore as compared to INR (189) crore
    • EPS amounted to INR 12.68 as compared to INR (7.48)

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