Godrej Properties saw 20% YoY jump in profit in Q3FY26 at Rs 195 crore and revenues fell49% at Rs 498 crore during the quarter. The company said Q3FY26 and 9MFY26 has been the highest ever Q3 and 9 M booking value achieved by the company. In an interview, Pirojsha Godrej ,executive chairperson of the company , tells Raghavendra Kamath about his views about property sales and company’s plans.
Are you seeing any headwinds in sales?
Demand continues to be strong. All our five cities are firing well. Sales have been well distributed. We are in steady stage of cycle. We did sales of Rs 2000 crore in Worli luxury project .We sold plots worth over Rs 1000 crore in Panipat . Against our target of Rs 32500 crore , we did bookings value of Rs 24000 crore. Q4 is a strong quarter for us and we are confident of meeting out target. We will deliver sustained growth next year also.
Which segments is standing out?
No one segments is standing out. Those properties priced Rs 20 crore have done well. Those between Rs 1 crore and Rs 1.5 crore done extremely well..Our focus is on premium developments between Rs 8000 to Rs 15000 a sq ft.
There have been job losses in IT sector. Have you seen any impact ?
No impact. In Q3 , our booking value went up 55%. We have reasonable exposure to commercial properties . Leasing has been strong. There has been a huge explosion in GCCs and quite a lot of job creation. We have to see how AI plays out though I personally feel it is not a job destroyer.
Many developers are looking to reduce sizes or increase amenities to boost sales. What has been your strategy.
We have not seen any great softness in sales. If you have right location, design , pricing and marketing and consistently deliver on your promise, projects sell. Our market share has gone up 2.4 % in 2021 to 4.8% in 2025.
Can you speak about your launch pipeline?
We are on track to meet our launch FY26 target of Rs 40000 crore. We have good number of launches. We have done business development of Rs 25000 crore in FY,26 most of which will be launches in next year. Whatever we could not launch will go into FY27.