Godrej Properties Q2 FY27 Results: Profit Drops 62%, Booking Value Declines 6% YOY; Stock Falls Over 4%

Godrej Properties’ results for the September quarter showed mixed performance across its operating and financial metrics. Total income went up, and collections were higher than a year ago. EBITDA (earnings before interest, taxes, depreciation, and amortisation) and net profit, however, fell sharply.

The company also added a Mumbai project with an estimated booking value of ₹6,000 crore and outlined its plans for the second half of the financial year.

On 23 October 2026, Godrej Properties share price was trading at ₹1,493, down 4.62% during the session as of 2:50 pm IST.

What Do Godrej Properties’ Q2 FY27 Numbers Reveal?

The company reported a 62% year-on-year fall in Q2 FY27 net profit to ₹154 crore, while profit before tax plunged 83% to ₹98 crore. EBITDA dropped 72% to ₹171 crore.

Total income, meanwhile, rose 38% YoY to ₹2,575 crore. Customer collections grew 31% to ₹5,318 crore, while operating cash flow increased 33% to ₹1,584 crore.

Godrej Properties’ H1 FY27 total income rose 13% year on year to ₹3,912 crore from ₹3,460 crore. Earnings fell over the same period, with adjusted EBITDA down 47% to ₹825 crore and net profit after tax declining 50% to ₹504 crore.

Godrej Properties added one project in Marine Lines, Mumbai, during Q2 FY27. The project has an estimated saleable area of 1.10 million sq. ft. and an expected booking value of ₹6,000 crore. The company added four projects with a combined estimated saleable area of 9.1 million sq. ft. and expected booking value of ₹15,500 crore in H1 FY27.

What Happened To Godrej Properties’ Sales And Collections In Q2 FY27?

The company recorded a booking value of ₹8,008 crore during the quarter, against ₹8,505 crore in Q2 FY26. It sold 3,658 units across 6.2 million sq. ft., compared with 7.1 million sq. ft. in the year-ago period. Some project launches shifted to Q3 FY27, while launches during the quarter aggregated ₹5,500 crore.

Sales from existing projects accounted for a larger share of bookings. Sustenance sales contributed 63% of the quarter’s booking value and grew 83% year on year. Godrej Trilogy in the Mumbai Metropolitan Region, Godrej Vanantara in Bengaluru and Godrej Samaris in Gurugram each contributed more than ₹500 crore to sustenance sales.

New launches also contributed to bookings:

• Godrej Crown Residences, Noida: ₹1,036 crore
• Godrej Brooklyn Avenue, Hyderabad: ₹727 crore
• Godrej Regent Park, Bengaluru: ₹463 crore
• Rivershore Estate, Nagpur: ₹310 crore
• Greenvale Estate, Raipur: ₹276 crore
• Godrej Florenne, Bengaluru: ₹142 crore

Customer collections increased 31% year on year to ₹5,318 crore. Operating cash flow reached ₹1,584 crore, rising 33% year on year and 297% quarter on quarter. For the first half of FY27, collections stood at ₹9,666 crore, up 25% from a year earlier.

What Is Godrej Properties’ Outlook For H2 FY27?

Godrej Properties expects a booking value of ₹22,500–25,000 crore in H2 FY27, alongside a launch value of around ₹32,000 crore. The pipeline includes projects in Bandra, Sector 63A Gurugram, Thane Uniabex, Vikhroli, Noida DMIC, Neopolis, Kharadi 2, Mahalunge 2 and Vastrapur, along with new phases of existing projects. The company expects booking value to grow 15–20% year on year for FY27.

It expects customer collections of around ₹15,000 crore and operating cash flow of approximately ₹7,000 crore in the second half. The presentation states that this would enable the company to become free-cash-flow positive in H2 FY27.

Construction and related outflow rose 31% year on year in Q2 FY27. For the first half, the increase was 42%. The company delivered 3.4 million sq. ft. during H1 FY27 and reported 2.5 million sq. ft. of deliveries in Q2. It also reported net leasing of 1.7 lakh sq. ft. during the quarter.

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