Godrej Properties’ robust pre-sales offset debt drag
- Net debt rose to ₹6,903 crore at the end of December from ₹6,174 crore at the end of September, thanks to increased business development activities in recent quarters.
Godrej Properties Ltd is on the way to exceeding its target of ₹14,000 crore for bookings in FY24, thanks to a healthy launch pipeline. In the nine months to December, pre-sales stood at ₹13,008 crore. Eight new launches contributed significantly to bookings in the third quarter, leading to the highest-ever quarterly bookings of ₹5,720 crore, beating analysts’ estimates.