Revenue from operations surged 107.77% to Rs 343 crore in Q2 FY24 from Rs 165.09 crore recorded in the corresponding quarter previous year.

Profit before tax in Q2 FY24 was at Rs 111.42 crore, registering a growth of 130.83% as against Rs 48.27 crore reported in Q2 FY23.

EBITDA surged 76% to Rs 167 crore in the second quarter of FY24 as compared with Rs 94 crore in Q2 FY23. EBITDA margin improved to 29.2% in Q2 FY24 as against 28.9% registered in Q2 FY23.

During the quarter, collections grew by 23% year on year to Rs 2,378 crore, leading to net operating cash flow growth of 12% YoY to Rs 811 crore.

On the operational front, total booking value zoomed 109% to Rs 5,034 crore in Q2 FY24 as compared with Rs 2,409 crore posted in Q2 FY23. Total booking volume soared 93.36% to 5.24 million sq. ft. in Q2 FY24 as against 2.71 million sq. ft. in Q2 FY23.

Pirojsha Godrej, Executive Chairperson, Godrej Properties, said, “The significant levels of business development we have executed over the past several years provides us the opportunity to maximize the growth opportunities available in the market and our topmost priority is bringing these projects to market in the upcoming quarters.

We saw strong demand for our new launches this quarter and we are delighted with the response to our project, Godrej Tropical Isle in Noida which received bookings of more than Rs 2,000 crore within the quarter making it GPL’s most successful ever launch. We remain on-track to exceed our bookings target of Rs 14,000 crore in FY24 and are confident of also delivering our best ever cash collections and project deliveries.”

Godrej Properties is the real estate arm of the Godrej Group. It is subsidiary of Godrej Industries, which holds 47.34% of the company's equity shares as on 30 September 2023. The company currently operates in various cities and focuses on residential, commercial, and township development.