StrengthTalking point
Profit outpacing revenue
Profit grew 32.5% while revenue grew 4.2%, so the company kept more of each rupee of revenue as profit.
Importance 68 / 95 · growth
Godrej Properties Limited · Research view
Godrej Properties Limited
NSE: GODREJPROPBSE: 533150ISIN INE484J01027Face value ₹5standalone
₹1,620
−0.64% · 2026-10-01 · 52-wk ₹1,471–₹2,320
Financials to FY2026 · 7 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis
What stands out?
The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.
StrengthConcernWatchContext
WatchTalking point
Volatile earnings
Profit has swung sharply over 6 years (from ₹-189 to ₹1,841) — one year is a weak guide to the earnings power.
Importance 63 / 95 · growth
ConcernTalking point
Weak cash conversion
Operating cash flow was only -1.07× reported profit (FY2026).
Importance 61 / 95 · cash quality
StrengthTalking point
Margins at a multi-year high
EBITDA margin of 55.8% is the widest in 6 years (prior range 30.7% to 49.0%).
Importance 59 / 95 · profitability
Section 03 · The company
Who is this company?
Classified by the exchange under Consumer Discretionary › Realty › Realty › Residential, Commercial Projects.
- Market cap
- ₹48,794 cr
- FY2026 revenue
- ₹1,395 cr
- FY2026 net profit
- ₹349 cr
- Net worth
- ₹17,793 cr
- Total debt
- ₹14,967 cr
- EPS (basic)
- ₹11.58
- Listed
- NSE · BSE
- Reporting
- Ind-ASApr–Mar
Peer set used on this page: 6 residential, commercial projects.
Section 04 · Business performance
Is the business growing?
RevenueNet profit
Strength
Profit grew 32.5% while revenue grew 4.2%, so the company kept more of each rupee of revenue as profit.
Rule PROFIT_FASTER_THAN_REVENUE
- Revenue growth per year
- −3.7%over 6 years
- Revenue growth
- −28.4%vs last year
- Net profit growth
- −65.5%vs last year
- Change in net profit since FY20
- +11%
Profit has swung sharply over 6 years (from ₹-189 to ₹1,841) — one year is a weak guide to the earnings power.
Over 6 years profit compounded at 37.6% a year while revenue compounded at 13.2% a year — though FY2025 saw a one-off step-change of 86% (a merger, restructuring or a recovery off a low base), so the compounding is uneven.
Revenue compounded at 13.2% a year over 6 years (₹2,441 → ₹5,131) — though FY2022 saw a one-off step-change of 139% (a merger, restructuring or a recovery off a low base), so the compounding is uneven.
Net profit grew 32.5% year on year (FY2025 → FY2026).
Section 05 · Recent activity
What changed recently?
Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.
Concern
Q1 FY27 net profit was ₹349 cr, down 41.6% from ₹598 cr a year earlier.
Rule QTR_PROFIT_GROWTH_YOY
Watch
Q1 FY27 net profit declined 41.6% vs the same quarter last year, reversing the growth seen in the two preceding quarters (+22.5% and +70.6%).
Rule QTR_TREND_REVERSAL
Watch
Q1 FY27 net profit declined 41.6% while revenue grew 16.5% vs the same quarter last year — a gap of 58.1 percentage points.
Rule QTR_PROFIT_VS_REVENUE_GROWTH
A. Quarterly results
RevenueNet profit
| Quarter | Revenue | YoY | Net profit | YoY | Net margin |
|---|---|---|---|---|---|
| Q2 FY25 | 1,093 | — | 334 | — | 30.5% |
| Q3 FY25 | 969 | +193.2% | 158 | +152.2% | 16.3% |
| Q4 FY25 | 2,122 | +48.8% | 378 | −20.8% | 17.8% |
| Q1 FY26 | 435 | −41.2% | 598 | +15.3% | 137.7% |
| Q2 FY26 | 740 | −32.3% | 403 | +20.7% | 54.4% |
| Q3 FY26 | 498 | −48.6% | 194 | +22.5% | 38.9% |
| Q4 FY26 | 3,458 | +63.0% | 645 | +70.6% | 18.7% |
| Q1 FY27 | 506 | +16.5% | 349 | −41.6% | 69.0% |
B. TTM snapshot
Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters
- Revenue
- ₹5,203 crTTM
- EBITDA
- ₹2,474 crTTM
- EBIT
- ₹2,351 crTTM
- PBT
- ₹2,267 crTTM
- Net profit
- ₹1,592 crTTM
C. Corporate actions
28 Jul 2026DividendFinal Dividend - Rs. - 10.0000 — ₹10.00/share
27 Jul 2015DividendDividend - Rs. - 2.0000 — ₹2.00/share
28 Jul 2014DividendDividend - Rs. - 2.0000 — ₹2.00/share
21 Nov 2013Stock splitStock Split From Rs.10/- to Rs.5/- — 10:5
19 Aug 2013Rights issueRight Issue of Equity Shares
2 Jul 2013DividendDividend - Rs. - 4.0000 — ₹4.00/share
19 Jul 2012DividendFinal Dividend - Rs. - 3.0000 — ₹3.00/share
14 Jul 2011DividendFinal Dividend - Rs. - 4.5000 — ₹4.50/share
8 Jul 2010DividendFinal Dividend - Rs. - 4.0000 — ₹4.00/share
Section 06 · Business performance
Is it becoming more profitable?
EBITDA marginNet margin
Strength
EBITDA margin of 55.8% is the widest in 6 years (prior range 30.7% to 49.0%).
Rule MARGIN_AT_MULTI_YEAR_HIGH
- EBITDA margin now
- 80.2%
- 7-year range
- 45.8–95.8%
- ROE FY2026
- 2.0%
- ROCE FY2026
- 3.4%
EBITDA margin improved from 42.4% to 55.8% of revenue.
Section 07 · Financial health
Is financial health improving?
Net worth (shareholders' funds)
Concern
Operating cash flow was only -1.07× reported profit (FY2026).
Rule WEAK_CASH_CONVERSION
Operating cash flowNet profit
- Total debt
- ₹14,967 cr
- Operating cash flow ÷ net profit
- -4.84×FY2026
- Free cash flow
- ₹−1,992 cr
- Current ratio
- 1.39×
Net worth compounded at 26.1% a year over 6 years (₹4,804 → ₹19,355) — though FY2021 saw a one-off step-change of 73% (a merger, restructuring or a recovery off a low base), so the compounding is uneven.
Section 08 · Relative position
How does it compare with peers?
Ranked against 6 residential, commercial projects (FY2026, consolidated).
Revenue growth
GODREJPROP · 5th of 6 · set median 14.8%
EBITDA margin
GODREJPROP · 3rd of 6 · set median 46.6%
Return on equity
GODREJPROP · 5th of 6 · set median 10.5%
P/E ratio
GODREJPROP · 3rd of 6 · set median 33.8×
Context
Trades at 2.52× book — 32% below the residential commercial projects median of 3.73×.
Rule PB_BELOW_PEERS
- P / E
- 30.7×TTM to Jun 26
- P / B
- 2.5×latest book
- P / S
- 9.4×TTM sales
- Earnings yield
- 3.3%TTM to Jun 26
On the trailing twelve months. Last full year: P/E 26.5× · P/S 5.8× · ROE 10.0%. TTM and full-year revenue differ by more than 15% — a one-off in a recent quarter is moving the trailing figure; weigh it against the full year.
Section 09 · The stock
How has the stock performed?
Long-term price performance is shown above.
- 1-year return
- −20.2%
- 3-year return
- +4.2%
- 5-year return
- −27.5%
- From 52-wk high
- −30.2%
Section 10 · Technical data
What does the technical data say?
Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.
- vs 50-day avg
- Below₹1,931
- vs 200-day avg
- Below₹1,838
- RSI (14)
- 25.9oversold
- MACD histogram
- -3.6
- From 52-wk high
- −30.2%
- From 52-wk low
- +10.1%
- 30-day volatility
- 30.3%ann.
- 6-month return
- +10.1%
Section 11 · Open questions
What should I investigate further?
Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.
- WatchVolatile earningsProfit has swung sharply over 6 years (from ₹-189 to ₹1,841) — one year is a weak guide to the earnings power.EARNINGS_VOLATILE · conviction 63
- ConcernWeak cash conversionOperating cash flow was only -1.07× reported profit (FY2026).WEAK_CASH_CONVERSION · conviction 61
- Cash-flow-statement facts are unavailable for FY2020 — those filings predate SEBI's Cash Flow Statement disclosure requirement. All other loaded years carry full P&L, balance sheet and cash-flow data.
- The price-adjusted series does not correct for a rights issue (ex-date 2013-08-19) — BSE's corporate-actions feed does not carry the subscription price or ratio a rights adjustment needs, unlike splits and bonuses, which are corrected. Returns spanning that date may be modestly overstated or understated.
Section 12 · Reference
The numbers
The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.
| Metric | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| Revenue | 1,747 | 570 | 1,473 | 1,155 | 1,331 | 1,950 | 1,395 |
| Total income | 2,288 | 1,241 | 2,332 | 2,100 | 2,526 | 4,157 | 3,386 |
| EBITDA | 799 | 334 | 954 | 1,083 | 1,119 | 1,868 | 1,119 |
| Profit before tax | 512 | 83 | 714 | 831 | 714 | 1,265 | 489 |
| Net profit | 313 | −43 | 526 | 656 | 564 | 1,011 | 349 |
| EPS (₹) | 12.7 | −1.7 | 18.9 | 23.6 | 20.3 | 35.4 | 11.6 |
| Net worth | 5,035 | 8,756 | 9,284 | 9,945 | 10,512 | 17,444 | 17,793 |
| Total debt | 3,204 | 4,513 | 5,170 | 6,400 | 10,087 | 11,968 | 14,967 |
| Operating cash flow | — | −505 | 22 | −1,895 | 180 | −1,758 | −1,689 |
| Free cash flow | — | −543 | −29 | −1,967 | 72 | −1,921 | −1,992 |
| Ratio | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Revenue growth YoY | — | -67.3 | 158.3 | -21.6 | 15.2 | 46.5 | -28.4 |
| Profit growth YoY | — | — | — | 24.7 | -13.9 | 79.1 | -65.5 |
| Profitability | |||||||
| EBITDA margin % | 45.8 | 58.6 | 64.7 | 93.7 | 84.1 | 95.8 | 80.2 |
| Net margin % | 13.7 | -3.4 | 22.6 | 31.2 | 22.3 | 24.3 | 10.3 |
| Return on equity % | 6.2 | -0.6 | 5.8 | 6.8 | 5.5 | 7.2 | 2.0 |
| Return on capital % | 9.5 | 3.0 | 6.8 | 6.9 | 5.9 | 7.3 | 3.4 |
| Leverage & cash | |||||||
| Debt to equity | 0.64 | 0.52 | 0.56 | 0.64 | 0.96 | 0.69 | 0.84 |
| Cash flow ÷ profit | — | — | 0.04 | -2.89 | 0.32 | -1.74 | -4.84 |
| Current ratio | 1.63 | 2.27 | 2.26 | 1.62 | 1.61 | 1.73 | 1.39 |