Godrej Properties Limited, a leading real estate developer in India, has submitted its monitoring agency report for the quarter ended June 30, 2025, detailing the utilization of proceeds from its qualified institutional placement (QIP). The report, prepared by ICRA Limited, the appointed monitoring agency, highlights the company's adherence to its stated objectives and efficient use of funds.

QIP Details and Proceeds

Godrej Properties conducted the QIP from November 27 to December 2, 2024, raising a total of Rs 6,000.00 crore. After accounting for issue-related expenses, the actual net proceeds amounted to Rs 5,921.00 crore, slightly higher than the initially estimated Rs 5,915.00 crore due to lower-than-anticipated offer-related expenditures.

Utilization of Funds

According to the monitoring agency report, Godrej Properties has utilized the QIP proceeds as follows:

The report confirms that there has been no deviation from the stated objects of the issue, demonstrating the company's commitment to its outlined plans.

Unutilized Funds and Returns

The remaining Rs 2,119.00 crore of unutilized funds have been strategically deployed in various financial instruments:

• Multiple mutual funds
• Fixed deposits

These investments are generating returns ranging from 7.18% to 8.65%, showcasing the company's prudent financial management of idle funds.

Project Timelines

Both project objectives related to the QIP proceeds remain on schedule, with completion targeted for March 31, 2028. This indicates that Godrej Properties is progressing as planned with its development initiatives.

Monitoring Agency's Statement

ICRA Limited, in its role as the monitoring agency, has declared that the utilization of the issuance proceeds is in line with the objects of the issue. The agency has not observed any deviations from the stated objectives.

Conclusion

Godrej Properties' efficient utilization of QIP proceeds, coupled with strategic deployment of unutilized funds, demonstrates the company's commitment to maximizing shareholder value while adhering to its growth plans. As the real estate sector continues to evolve, investors and stakeholders can take confidence in the company's transparent reporting and adherence to its stated objectives.

The monitoring agency report serves as a testament to Godrej Properties' financial discipline and strategic approach to fund utilization, positioning the company well for its ongoing and future real estate development projects.

Godrej Properties Limited (GPL), one of India's leading real estate developers, has announced its latest quarterly financial results, showing mixed performance with profit growth but revenue decline.

Financial Performance

Godrej Properties reported a net profit of ₹600.00 crore for the quarter, marking a 15.4% increase from the previous year. However, the company experienced a significant revenue decline of 41% to ₹435.00 crore compared to the same quarter last year. GPL also posted an EBITDA loss of ₹243.00 crore for the quarter.

Key Financial Highlights

• Net Profit: ₹600.00 crore, up 15.4% year-over-year
• Revenue: ₹435.00 crore, down 41% year-over-year
• EBITDA: Loss of ₹243.00 crore
• Other Income: Increased to ₹1,186.00 crore from ₹960.00 crore year-on-year
• Booking Value: ₹7,082.00 crore, down 18% from ₹8,637.00 crore in the previous year

Booking Value Milestone

Despite the decline in booking value, Godrej Properties achieved its eighth consecutive quarter exceeding ₹5,000.00 crore in booking value, demonstrating consistent performance in this metric.

Project Additions and Guidance

The Mumbai-based real estate developer added five new projects with 9.24 million sq ft of saleable area and an expected booking value of ₹11,400.00 crore. This achievement represents 57% of the company's annual guidance. Management stated that the company is on track to meet or exceed its FY26 guidance.

Market Performance

Godrej Properties' shares traded 0.59% lower at ₹2,090.40 and are down 25% year-to-date, reflecting investor sentiment in light of the mixed financial results.

Segment Performance

Financial Ratios and Indicators

The company's financial health remains strong, as evidenced by key ratios:

Outlook

Despite the mixed Q1 results, with net profit growth but lower revenue and bookings, Godrej Properties continues to focus on strategic market expansion and maintaining strong financial fundamentals. As the company navigates the current market conditions, it remains dedicated to innovation, sustainability, and excellence in the real estate industry.