Mumbai, November 10, 2022: Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the second quarter that ended September 30, 2022.

CORPORATE HIGHLIGHTS:

Sales Highlights

• Q2FY23 witnessed total booking value of INR 2,409 crore and total booking volume of 2.71million sq. ft.
• 4 new project/phase launches across 3 cities

Business Development
Added 2 new projects in MMR and Bangalore with an expected booking value of 1,950 crore
Carmichael Road, MMR
• Spread across approximately0.5 acres, this project will offer 0.12 million sq. ft. of luxury residential development near Carmichael Road, an upmarket residential area in Mumbai
• The estimated revenue potential from the project is approximately INR 1,200 crore
• It is a 100% owned project
Indiranagar extension, Bengaluru
• Spread across approximately 7 acres, this project will offer 0.6 million sq. ft. of premium residential development located in the immediate vicinity of Indiranagar and is close to the Old Airport Road and within the Outer Ring Road limits in Bengaluru
• The estimated revenue potential from the project is approximately INR 750 crore
• It is a 100% owned project

Post Q2 FY23 – Added two new projects in MMR and Pune with an expected booking value of 2,500 crore
Manor-Palghar, MMR
• Spread across approximately 50 acres, the project will offer 1.20 million sq. ft. of residential plotted development located in the fast-developing micro market of Manor, Palghar
• The estimated revenue potential from the project is approximately INR 500 crore
• It is a 100% owned project
Mundhwa, Pune
• Spread across approximately 12 acres, the project will offer 2.2 million sq. ft. of premium group housing development located at Mundhwa, one of the most centrally located residential areas in Pune
• The estimated revenue potential from the project is approximately INR 2,000 crore
• It is a 100% owned project

For the financial year to date, we have added 6 new projects with an estimated revenue potential of INR 6,025 crore.

Other Highlights
• 38 awards and recognitions received in Q2 FY23
• Ranked #1 amongst listed global residential developers for the third consecutive year by the Global Real Estate Sustainability Benchmark (GRESB)

Commenting on the performance of Q2 FY2023, Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said:
“While the global macroeconomic environment deteriorated in the second quarter, India’s economy continues to outperform and residential real estate demand continues to remain robust. At the halfway mark of the financial year, we are confident of achieving our booking value guidance of 10,000 crore for FY 23.

We are witnessing a lot of momentum in business development and hope to deliver GPL’s best-ever year for new project additions through strong momentum in the second half of the year.This in turn will ensure that the sharp increase in booking value this year is continued in the years ahead.”

Financial Overview (Consolidated)

Q2FY2023 performance overview compared with Q2 FY2022
• Total Income stood at INR 327crore as compared to INR 290 crore
• EBITDA stood at INR 94crore as compared to INR 105crore
• Net Profit stood at INR 55 crore as compared to INR 36 crore
• EPS# amounted to INR 1.98 as compared to INR 1.28