Godrej Properties (GODREJPROP) Q4 14/15 earnings summary

Executive summary

• FY15 consolidated total income rose 54% YoY to ₹1,926.56 crore; profit after minority interest grew 20% to ₹190.91 crore.

• Residential bookings reached a record ₹2,681 crore across 3.9 million sq. ft.; residential booking value grew 58% YoY.

• Delivered 3.5 million sq. ft. across five cities and added five projects with ~8 million sq. ft. of saleable area.

Financial highlights

• Consolidated revenue from operations was ₹1,843.09 crore versus ₹1,179.21 crore; total revenue was ₹1,926.56 crore versus ₹1,254.22 crore.

• Consolidated profit after minority interest was ₹190.91 crore versus ₹159.44 crore; basic EPS was ₹9.58 versus ₹8.62.

• Standalone revenue was ₹718.70 crore, PBT ₹143.72 crore and PAT ₹127.92 crore, versus ₹766.56 crore, ₹96.21 crore and ₹97.65 crore, respectively.

• Standalone other income included ₹51.80 crore profit on investment sales versus ₹4.56 crore in FY14; interest income was ₹144.66 crore versus ₹90.45 crore.

Outlook and guidance

• FY16 outlook cited a strong launch pipeline, improved consumer sentiment and potential demand recovery as economic and interest-rate headwinds eased.

• Business development focus remains Mumbai, NCR, Bengaluru and Pune, using capital-efficient joint development, development management and profit-sharing models.

• Priorities include timely launches and execution, improved project capabilities, optimized returns on capital and stronger risk management.