Godrej Properties says on track to achieve record ₹32,500 crore sales in FY26

Bengaluru: Godrej Properties Ltd (GPL) has sold 8,753 housing units and achieved ₹15,587 crore in sales bookings in the first six months of FY26. This is around 48% of its ₹32,500 crore target for this year.

A top official said the company is on track to meet this guidance— a milestone, if achieved, would mark the highest-ever annual sales by any Indian real estate developer.

Godrej Properties' performance underscores the growing dominance of branded developers in India’s housing market, driven by a robust pipeline of project launches and a focus on premium projects that yield higher margins.

In the July-September quarter, the Mumbai-headquartered developer sold 4,522 homes worth ₹8505 crore, up 64% on a year-on-year basis. This is the ninth consecutive quarter that GPL has clocked over ₹,5000 crore of sales, the first in real estate space.

Despite a sharp rise in sales, GPL has seen a 32% fall in revenue from operations to ₹740.38 crore in the second quarter, compared to the corresponding quarter a year ago, on account of lower delivery. Revenue is recognized based on project completion milestones.

Net profit rose 20.7% to ₹402.99 crore during the period. The earnings were announced on Thursday.

Though GPL delivered around 3 million sq ft in the April-September period, the developer has set an ambitious project delivery target of 10 million sq ft in FY26.

GPL has set the highest sales target for 2025-26 among India's top four developers, which include DLF Ltd, Prestige Estate Projects Ltd and Lodha Developers Ltd.

Last year, it sold 15,000 homes worth ₹29,444 crore, the highest-ever by an Indian real estate firm.

“Unlike many developers, we have a well-distributed portfolio where sales is spread across multiple markets. Our quarterly sales bookings in Q2 is higher than our annual bookings of FY22. I am happy that Hyderabad, a new market for us has generated over ₹1500 crore from the second project that was launched,” executive chairperson Pirojsha Godrej told Mint.

The second half of a financial year is typically a stronger period for both sales and project launches. “We will meet our annual targets in sales, launches and even delivery this year,” he said.

GPL added four new projects with an estimated saleable area of 5.82 million sq ft and expected booking value of ₹4,850 crore in the September-ended quarter. The company's luxury project in Mumbai's upscale Worli locality will be one of its key upcoming launches this year.

Godrej, in an analyst call on Thursday, said there is strong headroom for growth in the next several years, by way of diversification of micro-markets within a city.

“We have been entering smaller cities for plotted developments, which in the course of time could see group housing opportunities too,” he told analysts.

The top four developers, including GPL, are collectively aiming to cross ₹1 trillion in residential sales in FY26, marking the strongest year yet for branded players.

While the overall real estate market is showing some signs of plateauing, the top developers continue to sell well.

Pankaj Kapoor, managing director, Liases Foras Research, a real estate research company, said the second half of FY26 will neither see a decline in sales nor a sharp growth for the industry. “However, the top developers have a huge launch pipeline that will boost home sales significantly.”