Godrej Properties Executive Chairperson Confirms Robust Health of India's Housing Market
Pirojsha Godrej, the Executive Chairperson of Godrej Properties, has affirmed that India's housing market continues to demonstrate remarkable strength, with consistent growth observed in both sales volumes and property prices. In a recent interview with PTI, Godrej dismissed any significant concerns regarding demand, highlighting the market's resilience and stability.
Market Stabilization Post-Pandemic Boom
Godrej explained that the residential real estate sector has now entered a phase of stabilization following the exceptionally rapid expansion witnessed in the aftermath of the COVID-19 pandemic. He characterized the current environment as one of healthy and sustainable momentum, rather than the overheated growth seen previously.
"Housing market as a whole is holding up. Lots of talk about market softening...But what we are seeing continues to be quite strong," he stated, noting robust sales performances in major metropolitan areas including the Mumbai Metropolitan Region, Delhi-NCR, Bengaluru, Pune, and Hyderabad. Additionally, he reported encouraging pre-sales of housing plots in tier-II cities such as Panipat.
Confidence in Annual Targets and Operational Metrics
Expressing strong confidence, Godrej projected that Godrej Properties will comfortably achieve its sales booking target of Rs 32,500 crore for the current financial year. The company is also on track to meet its annual guidance across other critical operational parameters, including customer collections, project deliveries, new launches, and land acquisition activities.
He elaborated on the broader market cycle, describing how the housing sector typically transitions from recovery to a phase of rapid price and volume growth, before settling into a more balanced and steady state. "I think we are in that more steady state now, where prices are doing well and volumes are strong, but not at the crazy growth levels seen a couple of years ago," Godrej remarked.
Detailed Performance Highlights for Godrej Properties
The company's performance data supports this optimistic outlook:
- Sales Bookings: In the first nine months of the 2025–26 fiscal year, sales bookings grew by 25% to Rs 24,008 crore, positioning the firm well to meet its full-year target. Godrej added, "Hopefully, we can do a little bit better."
- Customer Collections: Collections increased by 19% to Rs 12,018 crore during the same period. A sharp pickup is anticipated in the January–March quarter due to a higher number of project deliveries, aiding progress toward the annual target of Rs 21,000 crore.
- Construction Progress: Godrej Properties is likely to exceed its annual completion target of 10 million square feet. Approximately 5 million square feet has been completed in the first nine months, with several deliveries scheduled for the final quarter.
- Business Development: The company has acquired 12 land parcels with a total estimated saleable area of 22.36 million square feet and a potential booking value of Rs 24,650 crore, surpassing its annual guidance of adding Rs 20,000 crore worth of projects. Godrej expects another strong quarter in business development.
Financial Performance and Market Position
Financially, Godrej Properties reported a 23% rise in consolidated net profit to Rs 193.87 crore for the quarter ended December, compared to Rs 158.20 crore in the same period last year. However, total income declined to Rs 1,033.84 crore from Rs 1,239.97 crore year-on-year.
Godrej Properties stands as one of India's premier real estate developers. In the 2024–25 fiscal year, it emerged as the largest listed real estate company after achieving record sales bookings of Rs 29,444 crore, underscoring its leading position in the industry.
Recent reports from real estate consultants indicate that while housing sales volumes have dipped in several major cities during the 2025 calendar year, overall sales value has increased due to higher property prices, reflecting the market's current dynamics of value-driven growth.
