Godrej Properties Poised to Outperform Real Estate Sector Growth, Says CEO
In a significant development for India's real estate landscape, Godrej Properties Limited (GPL) is projected to surpass the overall growth rate of the real estate sector, according to executive chairperson Pirojsha Godrej. The Mumbai-based developer, which holds the title of the country's highest-selling residential real estate firm, has already achieved remarkable sales figures in the current fiscal year, setting the stage for potentially historic annual performance.
Record-Breaking Sales Performance
Godrej Properties has reported sales bookings worth ₹24,008 crore during the first nine months of the 2025-26 financial year. This impressive figure represents approximately 74% of the company's ambitious full-year target of ₹32,500 crore. Should Godrej Properties successfully reach this target, it would establish a new benchmark as the highest-ever annual sales achieved by any real estate developer in India's history.
The company's performance highlights several key trends in the current market:
- Branded developers are gaining increasing dominance in the residential real estate sector
- A robust pipeline of project launches is driving sustained growth
- Focus on premium projects is yielding higher profit margins
Market Share Expansion and Growth Trajectory
Pirojsha Godrej, who serves as Managing Director & CEO of Godrej Properties, emphasized the company's strong position in an interview with Mint. "We are well on track to achieve the full-year sales guidance," he stated confidently. "We have a number of project launches lined up for the fourth quarter. GPL has doubled its market share in 2025 to 4.8% from 2.4%, but there is still huge headroom for us to grow."
The executive further elaborated on the broader industry trend, noting that "leading developers will continue to grow their market share, and we will grow faster than the real estate market growth." This statement comes at a time when the overall real estate sector is experiencing some moderation in sales and price increases following the dramatic post-pandemic growth surge.
Consistent Quarterly Performance
Godrej Properties has demonstrated remarkable consistency in its sales performance across multiple quarters:
- The company has achieved sales bookings exceeding ₹7,000 crore for the fourth consecutive quarter
- This marks the tenth straight quarter with sales bookings over ₹5,000 crore
- The third quarter of 2025-26 saw the highest sales bookings at ₹8,421 crore
This consistent performance places Godrej Properties ahead of other major developers, including Mumbai's Lodha Developers (₹5,620 crore), Bengaluru-based Prestige Estates Projects Ltd (₹4,183.6 crore), and DLF Ltd (₹419 crore) in the same quarter.
Financial Performance and Project Deliveries
The October-December quarter presented a mixed financial picture for Godrej Properties. While the company reported a substantial 22.7% year-on-year increase in profit, reaching ₹194 crore, revenue from operations declined by 48.5% to ₹498.36 crore during the same period. This revenue decrease is attributed to lower project completion and delivery rates, as revenue recognition follows project completion milestones.
Godrej Properties has established an ambitious project delivery target of 10 million square feet for FY26. During the first three quarters, the company has delivered 4.7 million square feet. Pirojsha Godrej indicated that "the bulk of the project deliveries will happen in the March-ended quarter" and expressed confidence that "we think we can outperform the delivery target."
Industry-Wide Momentum
The top four real estate developers in India, including Godrej Properties, collectively aim to cross the ₹1 trillion mark in residential sales this year. This would represent the strongest performance year yet for branded players in the Indian real estate market, signaling a significant shift toward organized, branded development in the sector.
Godrej Properties continues to expand its project pipeline aggressively. During the third quarter alone, the company added three new projects with an estimated saleable area of 7.30 million square feet and an expected booking value of ₹8,400 crore. This expansion strategy underscores the company's commitment to maintaining its growth momentum and market leadership position.
The performance of Godrej Properties and other top developers suggests a maturing real estate market where branded, organized players are capturing increasing market share even as the broader sector experiences normalization after the post-pandemic boom. This trend points toward greater consolidation in the industry and potentially higher quality standards for residential developments across India's major urban centers.
