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ICICI Securities Report
Godrej Properties Ltd. clocked record Q4 FY22 gross sales bookings worth Rs 32.5 billion (our estimate of Rs 32.0 billion) led by nine new launches across existing/new projects which contributed Rs 19.8 billion or 61% of Q4 FY22 sales.
This led to record sales bookings of Rs 78.7 billion in FY22 (up 17% YoY).
Heading into FY23E, Godrej Properties has a strong launch pipeline of 21.4 million square feet in FY23E (10.3 msf from new projects and 11.1 msf from new phases in existing projects) and expects to cross over Rs 100 billion of FY23E sales bookings (our estimate of Rs 126 billion).
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