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What is the story about?
India's housing market continues to be strong with steady growth in sales volume as well as pricing, Godrej Properties Executive Chairperson Pirojsha Godrej said, ruling out any concern on the demand side.
In an interview with PTI, he noted that the housing market has stabilised after witnessing a crazy growth for a couple of years post-COVID pandemic.
Pirojsha exuded confidence that the company would easily achieve its ₹32,500 crore target of sales bookings for this fiscal.
The company would also meet the annual guidance in other key metrics -- collection of funds from customers, deliveries of projects, launches and business development (addition of land parcels for future projects), he said.
"Housing market as a whole is holding up. Lots of talk about market softening...But what we are seeing continues to be quite strong," Pirojsha said and highlighted the company's strong sales bookings during the last calendar year across all major cities including Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Pune and Hyderabad.
He said the company's pre-sales of housing plots in tier II cities like Panipat have been very encouraging.
"If you look at a typical real estate cycle, you go through first that initial recovery phase, then you go through a couple of years of very fast pricing and volume growth, then you get to a more steady state. I think we are in that more steady state where prices are doing well, volumes are also strong, but not that crazy growth of a couple years ago," Pirojsha observed.
According to reports of real estate consultants, housing sales dipped in volume terms during the 2025 calendar year across 7-8 major cities but rose value-wise because of price appreciation.
Talking about the company's operational performance in the first nine months of this fiscal, he said the sales bookings have grown by 25% to ₹24,008 crore and would meet the target of ₹32,500 crore for the full 2025-26 fiscal.
"So we are on track to meet the sales bookings guidance, hopefully we can do a little bit better," he said.
On collections, Pirojsha said it has grown 19% to ₹12,018 crore in the first nine months of this fiscal and hoped to achieve the ₹21,000 crore annual target.
"We are still a long way to go for the guidance, but we had always said that January-March will be a big quarter, because lots of deliveries are planned in Q4, so collections will also be much higher this quarter. So still quite hopeful that we will be able to deliver the guidance," he said.
Regarding deliveries of projects, Pirojsha said the company would exceed the annual target of 10 million square feet in completion. Nearly 5 million square feet has been completed in the nine months of this fiscal and a lot of deliveries are expected in the current quarter.
On land acquisition, the company's Executive Chairperson said it has acquired 12 land parcels, with an estimated saleable area of 22.36 million sq. ft. and expected booking value of ₹24,650 crore.
"The target was to add ₹20,000 crore worth of projects. We have exceeded our annual guidance. We expect another good quarter on the business development front," he said.
On financial performance, Godrej Properties recently reported a 23% increase in its consolidated net profit to ₹193.87 crore for the quarter ended December despite lower income.
Its net profit stood at ₹158.20 crore in the year-ago period.
Total income declined to ₹1,033.84 crore during the third quarter of this fiscal from ₹1,239.97 crore in the corresponding period of the preceding year.
Also read: Century Plyboards flags demand challenges but sticks to FY26 growth guidance as housing inventory finally hits market
Godrej Properties is one of the leading real estate developers in the country.
The company became the largest listed real estate developer in the 2024-25 fiscal year, clocking record sales bookings of ₹29,444 crore.
In an interview with PTI, he noted that the housing market has stabilised after witnessing a crazy growth for a couple of years post-COVID pandemic.
Pirojsha exuded confidence that the company would easily achieve its ₹32,500 crore target of sales bookings for this fiscal.
The company would also meet the annual guidance in other key metrics -- collection of funds from customers, deliveries of projects, launches and business development (addition of land parcels for future projects), he said.
"Housing market as a whole is holding up. Lots of talk about market softening...But what we are seeing continues to be quite strong," Pirojsha said and highlighted the company's strong sales bookings during the last calendar year across all major cities including Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Pune and Hyderabad.
He said the company's pre-sales of housing plots in tier II cities like Panipat have been very encouraging.
"If you look at a typical real estate cycle, you go through first that initial recovery phase, then you go through a couple of years of very fast pricing and volume growth, then you get to a more steady state. I think we are in that more steady state where prices are doing well, volumes are also strong, but not that crazy growth of a couple years ago," Pirojsha observed.
According to reports of real estate consultants, housing sales dipped in volume terms during the 2025 calendar year across 7-8 major cities but rose value-wise because of price appreciation.
Talking about the company's operational performance in the first nine months of this fiscal, he said the sales bookings have grown by 25% to ₹24,008 crore and would meet the target of ₹32,500 crore for the full 2025-26 fiscal.
"So we are on track to meet the sales bookings guidance, hopefully we can do a little bit better," he said.
On collections, Pirojsha said it has grown 19% to ₹12,018 crore in the first nine months of this fiscal and hoped to achieve the ₹21,000 crore annual target.
"We are still a long way to go for the guidance, but we had always said that January-March will be a big quarter, because lots of deliveries are planned in Q4, so collections will also be much higher this quarter. So still quite hopeful that we will be able to deliver the guidance," he said.
Regarding deliveries of projects, Pirojsha said the company would exceed the annual target of 10 million square feet in completion. Nearly 5 million square feet has been completed in the nine months of this fiscal and a lot of deliveries are expected in the current quarter.
On land acquisition, the company's Executive Chairperson said it has acquired 12 land parcels, with an estimated saleable area of 22.36 million sq. ft. and expected booking value of ₹24,650 crore.
"The target was to add ₹20,000 crore worth of projects. We have exceeded our annual guidance. We expect another good quarter on the business development front," he said.
On financial performance, Godrej Properties recently reported a 23% increase in its consolidated net profit to ₹193.87 crore for the quarter ended December despite lower income.
Its net profit stood at ₹158.20 crore in the year-ago period.
Total income declined to ₹1,033.84 crore during the third quarter of this fiscal from ₹1,239.97 crore in the corresponding period of the preceding year.
Also read: Century Plyboards flags demand challenges but sticks to FY26 growth guidance as housing inventory finally hits market
Godrej Properties is one of the leading real estate developers in the country.
The company became the largest listed real estate developer in the 2024-25 fiscal year, clocking record sales bookings of ₹29,444 crore.
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