Godrej Properties Q4 Review - Record Performance; Strong Pipeline To Drive Growth: Motilal Oswal
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Motilal Oswal Report
Godrej Properties Ltd. delivered a strong operational performance in Q4 FY22, with sales bookings up 23% YoY to Rs 32.5 billion – its highest ever, but in line with our estimate.
Volumes were flat YoY at 4.2 million square feet, while realisations rose 22% to Rs 7,700/square feet.
Value of bookings increased by 17% YoY to Rs 78.6 billion in FY22, which was also a record, while sales volume remained flat at 10.8 msf.
Godrej Properties launched nine projects/phases with a total saleable area of 5.7 msf, of which 50% was sold in Q4 FY22.
In FY22, the company launched 10 msf against 16 msf of planned projects.
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