Annual booking value rose 16% to ₹34,171 crore, making it India’s largest residential developer by bookings for the third straight year. Despite strong fundamentals, net debt rose due to aggressive land acquisitions, while the stock gained 2.77% post-results. | Photo Credit: GOPINATHAN K
Godrej Properties Limited reported its highest-ever annual profit after tax of ₹1,850 crore for FY26, a 32 per cent jump from ₹1,400 crore in FY25, as the Mumbai-based developer released its Q4 and full-year results on Monday. The stock responded positively, rising 2.77 per cent to ₹1,886 on the NSE by early afternoon, though it remains down 16.48 per cent over the past year against a backdrop of broader mid-cap underperformance.
Q4 FY26 was the company’s strongest quarter on record for collections, with customer collections hitting ₹7,947 crore — a 14 per cent year-on-year increase and the highest ever reported by any Indian real estate developer in a single quarter. Quarterly net profit stood at ₹650 crore, up 70 per cent year-on-year. Total income for the quarter came in at ₹3,895 crore, a 47 per cent increase over Q4 FY25.
Full-year booking value grew 16 per cent to ₹34,171 crore, surpassing the company’s own guidance of ₹32,500 crore. The company sold 17,513 units covering 27 million square feet in FY26, marking its third consecutive year as India’s largest residential developer by booking value. MMR led regional sales at ₹10,312 crore, followed by Bengaluru at ₹8,801 crore and NCR at ₹7,412 crore.
Revenue recognition, however, tells a more measured story. Full-year total income was ₹8,374 crore against bookings of ₹34,171 crore, reflecting the gap between sales and accounting recognition under Ind AS completion-based revenue norms typical in Indian real estate.
Net debt rose to ₹6,414 crore as of March 31, 2026, from ₹3,269 crore a year earlier, as the company aggressively acquired land — spending ₹8,653 crore on land and approvals in FY26. The net debt-to-equity ratio stood at 0.33.
For FY27, the company has guided for booking value of ₹39,000 crore, collections of ₹24,000 crore, and deliveries of 13.5 million square feet. The stock trades at a trailing P/E of 33.08, with a market capitalization of approximately ₹56,732 crore.
Published on May 4, 2026