Godrej Properties reported a 62% fall in consolidated net profit to ₹154 crore for the second quarter of FY27, from ₹405 crore a year earlier, according to Business Standard on 24 October 2026. Spectate Media has not seen the company's filing. Total income rose 38% to ₹2,575 crore, from ₹1,867 crore, and EBITDA fell 72% to ₹171 crore, from ₹614 crore.
Bookings and collections
Sales bookings in the quarter were ₹8,000 crore. Booking value for the first half rose 7% to ₹16,659 crore, which the company called its highest ever for a first half. Sustenance sales rose 83% to ₹5,054 crore. Cash collections rose 31% to ₹5,318 crore, its highest for a second quarter, and first-half collections rose 25% to ₹9,666 crore. Operating cash flow was ₹1,584 crore, up 33% from a year earlier and 297% from the previous quarter.
Why profit and bookings diverge
Chairperson Pirojsha Godrej said headline earnings and bookings look muted, but that the quarter was a strong one operationally, driven by sustenance sales and cash collections. He described FY28 as a key year, when growth of the past few years should show in reported financials under project completion accounting. Under that method, profit appears when projects are completed, not when they are sold, so bookings and collections can run ahead of reported profit. The article does not discuss wider real estate trends.
Guidance
For the second half of FY27 the company expects collections of ₹15,000 crore and operating cash flow of ₹7,000 crore. For FY28 it expects positive free cash flow and a 20% reported return on equity.
Key numbers
- Net profit: ₹154 crore (Down 62% from ₹405 crore)
- Total income: ₹2,575 crore (Up 38%)
- Q2 collections: ₹5,318 crore (Up 31%; highest for a second quarter)
- H1 bookings: ₹16,659 crore (Up 7%; highest for a first half)
What boards and CFOs should note
Three points stand out. First, reported profit and cash generation moved in opposite directions this quarter. Second, the company ties the profit recovery to project completions in FY28. Third, its second-half targets are the figures to track against.
Source: Business Standard, 24 October 2026. This is a summary of a news report, published as general information. It is not legal, tax or investment advice.
This article is journalism and commentary. It is not a recommendation to buy or sell any security, and it is not professional advice. Read the full disclaimer.
