Godrej Properties Ltd.sustenance +83%, collections +31%, profit -62%

Godrej Properties' Q2 FY27 call, held on 23 October 2026, showed a developer whose launches slipped but whose cash engine ran hard.

Bookings were ₹8,008 crore, down 6% on the year, and ₹16,669 crore for the half, up 7%, which is 43% of the annual guidance. Two marquee launches, Bandra Bay and Godrej Verano, moved from Q2 into Q3, yet sustenance sales rose 83% to ₹5,054 crore. Collections grew 31% to ₹5,318 crore and operating cash flow reached ₹1,584 crore. Profit lagged: EBITDA fell 72% to ₹171 crore and net profit fell 62% to ₹154 crore, which management blamed on back-ended deliveries and on joint venture exits at Mahalunge and Orris.

Management added ₹15,500 crore of expected booking value in the half, 78% of its annual guidance. It expects the second half to be its best ever, with ₹32,000 crore of launches, ₹22,500 crore to ₹25,000 crore of sales, ₹7,000 crore of operating cash flow and positive free cash flow. Of 14 earlier promises, 11 were on track or better, one was delayed and two were not discussed.