Godrej Properties shares in focus after surpassing bookings guidance for FY26 but collections miss

Shares of Godrej Properties Ltd. are in focus on Friday, April 10, after the company reported its provisional business update for the fourth quarter and the financial year 2026.

The real estate company said it achieved its highest-ever bookings, collections, operating cash flow and business development in financial year 2026. It claimed that its booking value and collections for FY26 were the highest-ever reported by an Indian real estate developer in a financial year.

Godrej Properties managed to achieve 105% of its overall bookings guidance for the full financial year. However, collections stood only at 95% of the guided figure for the year.

Booking value, collections

Godrej Properties' booking value increased by 16% to ₹34,171 crore in FY26, growing at a three-year compound annual growth rate (CAGR) of 41%.

Booking value for the fourth quarter was the highest-ever in a quarter, equaling the previous best-ever quarter in the year-ago period. For the fourth quarter, bookings value grew 21% sequentially to ₹10,163 crore, achieved via the sale of 4,791 units with a total area of 7.26 million square feet.

On a quarterly basis, Godrej Properties said the fourth quarter was the fifth consecutive one where it delivered over ₹7,000 crore of booking value and 11th consecutive one where it delivered over ₹5,000 crore of booking value.

Godrej Properties' collections were up 17% to ₹19,965 crore in FY26 and grew at a three-year CAGR of 30%. In the fourth quarter, collections were at ₹7,947 crore, up 14% from its previous best quarter and up 86% sequentially.

Its direct construction spend was up by 62% in the fiscal.

Cash Flow

The company's operating cash flow increased by 5% to ₹7,830 in FY26 and grew at a three-year CAGR of 30% as well. Its operating cash flow in the fourth quarter was at ₹4,631 crore, up 14% annually over the previous best quarter and up 336% sequentially.

Godrej Properties said it added ₹42,100 crore of future sales potential via portfolio additions in the fiscal, achieving over 200% of its guidance and delivering annual growth of 59%. Its free cash flow increased 5% to ₹626 crore in the fourth quarter from the year-ago period.

New projects, deliveries, business development

Godrej Properties said it added 18 new projects in FY26 with a total estimated booking value potential of ₹42,100 crore for a total estimated saleable area of around 33.32 million square feet. This included six new projects in the fourth quarter with an expected booking value of ₹17,450 crore for a total estimated saleable area of around 11 million square feet.

Godrej Properties said FY26 was the best ever year for business development for the firm, with expected booking value added more than double the initial guidance of adding ₹20,000 crore of booking value potential.

The company delivered projects aggregating 12.1 million square feet across nine cities, representing 121% of its annual guidance for deliveries in the fiscal. This also included 7.4 million square feet of deliveries across eight cities in the fourth quarter, it said.

Promoters increase stake

The real estate developer said the company's promoters increased their stake in the firm and in the holding company Godrej Industries Ltd. in FY26. It said promoters invested ₹2,674 crore to acquire a 5% stake in Godrej Properties in FY26 at an average price 21% higher than the FY26 year-end stock price. This included a 4.5% stake acquisition in the fourth quarter.

Its promoters also invested ₹1,896 crore to acquire a 5% stake in the holding company Godrej Industries Ltd. for FY26, it added.

"Our business development additions with a future booking value potential of over ₹42,000 crore in FY26 will ensure that we continue to have a strong launch pipeline in the years ahead and the combined operating cash flow of over ₹15,000 crore we have generated in the past two financial years enables us to invest for growth while continuing to strengthen our balance sheet," Gaurav Pandey, the MD and CEO of Godrej Properties, said.

Shares of Godrej Properties ended the previous session 0.5% lower at ₹1,693.9 apiece. The stock has declined 16% this year, so far.

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