Godrej Properties will outperform real estate sector growth, says Pirojsha Godrej

Mumbai-based Godrej Properties, the country's highest-selling residential developer, has already clocked sales bookings of ₹24,008 crore in the first nine months of 2025-26, about 74% of its full-year target of ₹32,500 crore. If achieved, that would be the highest-ever annual sales by any Indian real estate developer.

The company’s performance underscores the growing dominance of branded developers in the residential market, driven by a robust pipeline of project launches and a focus on premium projects that yield higher margins.

Even as the overall real estate sector is seeing signs of moderation in sales and price rise after the dramatic post-pandemic growth, the top few developers have continued to sell well.

“We are well on track to achieve the full-year sales guidance. We have a number of project launches lined up for the fourth quarter. GPL has doubled its market share in 2025 to 4.8% from 2.4%, but there is still huge headroom for us to grow," executive chairperson Pirojsha Godrej said in an interview with Mint. “Leading developers will continue to grow their market share, and we will grow faster than the real estate market growth."

For the fourth consecutive quarter, GPL has achieved sales bookings of over ₹7,000 crore, and the tenth straight quarter of over ₹5,000 crore of sales.

Profit up, deliveries delayed

In the October-December quarter, the Mumbai-headquartered developer’s profit jumped 22.7% over a year earlier to ₹194 crore, according to its earnings announced on Thursday.

Despite the sharp rise in sales, GPL’s revenue from operations tumbled 48.5% ₹498.36 crore during the period on account of lower project completion and delivery. Revenue is recognized based on project completion milestones.

GPL has set a project delivery target of 10 million sq ft in FY26. In the first three quarters, it has delivered 4.7 million sq ft.

Godrej said in FY26, the bulk of the project deliveries will happen in the March-ended quarter. “We think we can outperform the delivery target."

GPL has reported the highest sales bookings of ₹8,421 crore in Q3, followed by Mumbai's Lodha Developers at ₹5,620 crore. Bengaluru-based Prestige Estates Projects Ltd’s ₹4,183.6 crore, and DLF Ltd’s ₹419 crore.

The top four collectively aim to cross ₹1 trillion in residential sales this year, marking the strongest year yet for branded players.

GPL, meanwhile, has continued to expand its project pipeline. In the third quarter, it added three new projects with an estimated saleable area of 7.30 million sq ft, and expected booking value of ₹8,400 crore.