Godrej Properties Limited

Regd. Office: Godrej One

5th Floor, Pirojshanagar,
Eastern Express Highway,
Vikhroli (E), Mumbai – 400 079. India
Tel.: +91-22-6169-8500
Fax: +91-22-6169-8888
Website: www.godrejproperties.com

CIN: L74120MH1985PLC035308

August 02, 2023

BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai – 400 001

The National Stock Exchange of India Limited

Exchange Plaza,
Plot No. C/1, G Block,
Bandra Kurla Complex,
Bandra (East)
Mumbai – 400 051

Ref: Godrej Properties Limited

BSE - Script Code: 533150, Scrip ID - GODREJPROP
BSE - Security Code – 974950, 974951 – Debt Segment
NSE - GODREJPROP

Sub: Investors Presentation and Press Release.

Dear Sir/ Madam,

Please find enclosed a copy of the Investors’ Presentation and the Press Release on the unaudited
financial results of the Company for the quarter ended June 30, 2023.

Please note the date & time of occurrence of the event/information is August 02, 2023, at 12:05 p.m.

This is for your information and record.

Thank you,

Yours truly,
For Godrej Properties Limited
Ashish Digitally signed by
Ashish Sudhakar
Sudhakar Karyekar
Date: 2023.08.02
Karyekar 12:07:43 +05'30'

Ashish Karyekar
Company Secretary

Enclosed as above
R E S U LT S P R E S E N T A T I O N
FIRST QUARTER, FINANCIAL YEAR 2024
DISCLAIMER

Some of the statements in this communication may be 'forward looking statements' within the meaning of

applicable laws and regulations. Actual results might differ substantially or materially from those expressed

or implied. Important developments that could affect the Company's operations include changes in

industry structure, significant changes in political and economic environment in India and overseas, tax

laws, import duties, litigation and labor relations

AGENDA
Overview
01
Q1 FY24 Operational Highlights 02

Q1 FY24 Financial Highlights 03

Annexure 04

3 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

GODREJ GROUP

• Established in 1897 Value Creation Track Record

• $6 bn annual revenue 22 year CAGR in ` 1 invested in

Particulars
stock price June 2001 is now worth
• 1.1 billion people globally use a Godrej product¹
BSE Sensex 14% 19
• Godrej ranks amongst the most trusted Indian brands²
Godrej Consumer
• $2.4 billion brand valuation by Interbrand³ 28% 219
Products

• Amongst India’s most diversified and trusted conglomerates

Godrej Industries 26% 173
• Real estate is a key growth business for the Group
Note: CAGR calculated for opening prices as of 18th June, 2001 when GCPL and GIL were demerged and publicly listed

1. Godrej Group internal study

2. The Brand Trust Report 2019
3. Interbrand study done in 2019

4 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

GODREJ PROPERTIES

• Established in 1990

• India’s largest developer by number of homes sold in FY23

• Successfully delivered ~37 million sq. ft. of real estate in the Chandigarh
0.5, 1 NCR
past five years 39.1, 25

• ~212 million sq. ft. of saleable area across India

• Differentiated asset-light business model

Ahmedabad
23.4, 1
• ~400 Awards received in last 5 years Kolkata
Nagpur
1.5, 1 8.2, 4
Mumbai
48.9, 30 Pune
51.3, 16

Bengaluru
31.8, 16 Legends:
Chennai Total Saleable Area (million sq. ft.): ~212
5.0, 3 No. of Projects: 98
Kochi
2.2, 1
(As on August 02nd, 2023)

5 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

STRENGTHS
1
• 1.1 billion people globally use a Godrej product
Godrej Brand • Godrej Properties ranked as the most trusted real estate brand in the 2019 Brand Trust Report
• GPL brings the Godrej brand’s reputation for trust, quality and corporate governance to the real estate sector

Effective Land • Competitive advantage in executing joint development projects

Sourcing Model • Capital efficient and high ROE development model

Strong Project • Added 60 residential projects with ~119 million sq. ft. saleable area since FY20182
Pipeline • Access to Group’s land bank across India (e.g. Vikhroli)

Sales and
• India’s largest developer by number of homes sold in FY23
Execution
• Successfully delivered ~37 million sq. ft. of real estate in the past five years
Capability

Access to • Confidence of capital markets demonstrated by sector leading stock performance since IPO
Capital • Lowest bank funding rates in the sector

• Ranked #1 amongst listed global residential developers in 2020, 2021 and 2022 by the Global Real
Estate Sustainability benchmark (GRESB)
Sustainability • GPL has been awarded as the winner under Environment & Social categories for Real Estate sector in
Leadership KPMG India’s first ESG Conclave and Awards 2023
• GPL committed to have all its projects third-party certified as green buildings in 2010 with a minimum
mandate of Silver or 3 star rating or equivalent level.

1. Based on Godrej Group* Internal Study

2. Total saleable area under projects, irrespective of the revenue / profit / area sharing arrangement as on 03 rd May 2023

6 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

STOCK PERFORMANCE
An investment into GPL’s IPO would be worth over ~6X an identical investment
into the BSE Realty Index

Value Creation Track Record

13 year CAGR in ` 1 invested in

Particulars stock price January 2010
is now worth

BSE Sensex 10.2% 3.69

Godrej Properties 15.3% 6.82

BSE Realty Index 0.5% 1.08

Note: CAGR calculated for prices as on 4 th January, 2010 (the date of GPL’s public listing) and 30 th June, 2023

7 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

AGENDA
Overview 01

Q1 FY24 Operational Highlights

02
Q1 FY24 Financial Highlights 03

Annexure 04
Q1 FY24 OPERATIONAL HIGHLIGHTS

Sales • Q1 FY24 booking value stood at INR 2,254 crore from the sale of 2.25 million sq. ft.
Highlights • 3 new project and phase launches during the quarter across 2 cities

Business
• Added 4 new residential projects in Kolkata and Gurugram with an estimated booking value of INR 6,450 crore between April-July 2023*
Development

Construction Highlights • Delivered projects aggregating ~4.9 million sq. ft. across 4 cities

Cashflow and • Achieved quarterly collections of INR 1,954 Crore for Q1 FY24, a YoY growth of 26%
Collection Highlights • Net operating cashflow for Q1 FY24 is INR 118 crore

Commercial Project
• Leased ~60K sq. ft. at Godrej Two in Q1FY24 at a weighted average monthly rent of over INR 165 per sq. ft. of leasable area
Update

• GPL was recognized for the ‘Best Sustainable Waste Management Initiative’ by Transformance Forums at 4th Annual ESG Summit and
ESG/CSR Initiatives Awards 2023 for our Solid waste Management projects implemented PAN India as part of our CSR initiatives

Other Highlights • 3 awards received in Q1 FY24

*2 of the Gurugram projects were won in the auction held in May 2023 with the official allotment and announcement in July 2023.

9 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

SALES HIGHLIGHTS
Muted quarterly sales performance due to some planned launches being delayed. Expect improved
momentum in Q2. Remain on track to meet full year guidance

Particulars Q1 FY24 Q1 FY23 Growth Q4 FY23 Growth FY23

Area Sold (million sq. ft.) 2.25 2.83 -20% 5.25 -57% 15.21

Booking Value (INR Cr) 2,254 2,520 -11% 4,051 -44% 12,232

Customer Collections* (INR Cr) 1,954 1,555 26% 3,822 -49% 8,991

* Net of taxes and includes collections for DM Projects

List of new project/phases launched

Mahalunge, Pune Godrej Tranquil, MMR Godrej Emerald Waters, Pune
• Launched in June 2023 • Launched in June 2023 • Launched in June 2023
• Total sales stood at 0.28 million sq. ft. with a • Total sales stood at 0.08 million sq. ft. with a • Total sales stood at 0.05 million sq. ft. with a
booking value of INR 205 crore booking value of INR 117 crore booking value of INR 116 crore

City-wise Sales Breakdown for Q1 FY24

MMR NCR Bengaluru
• Registered booking value of INR 656 • Registered booking value of INR 548 • Registered booking value of INR 509
crore through sale of 425 units with crore through sale of 681 units with crore through sale of 519 units with
total sales of 0.48 million sq. ft. total sales of 0.67 million sq. ft. total sales of 0.62 million sq. ft.

Pune Others
• Registered booking value of INR 446 • Registered booking value of INR 95
crore through sale of 136 units with crore through sale of 188 units with
total sales of 0.29 million sq. ft. total sales of 0.19 million sq. ft.

10 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

PROJECT BOOKING
Particulars Booking Area (mn. sq. ft.) Booking Value (INR Cr)

Q1 FY24 Q1 FY24

Godrej Splendor, Bengaluru 0.47 355

Godrej Hillside/ Meadows/ Green Cove, Pune 0.28 205

Godrej Urban Retreat/ Sky green/ Parkridge, Pune 0.24 175

Godrej Woods (Sector 43), NCR 0.11 153

Godrej Ascend, MMR 0.12 134

Godrej Athena, Bengaluru 0.10 134

Godrej Tranquil, MMR 0.08 117

Godrej Emerald Waters (Pimpri-Chinchwad), Pune 0.05 116

Godrej Horizon, MMR 0.05 111

Godrej Connaught One, NCR 0.01 102

Godrej South Estate, NCR 0.03 74

Godrej City, MMR 0.09 67

Godrej Five Gardens, MMR 0.01 63

Godrej Seven, Kolkata 0.12 61

Godrej RKS, MMR 0.01 41

Godrej Exquisite, MMR 0.03 39

Godrej Garden City, Ahmedabad 0.08 35

Others 0.37 272

Total 2.25 2,254

Notes: 1. Includes sales for the projects where GPL is the development manager | 2. Includes sale of retail area in certain projects | 3. Includes cancellations in certain projects
11 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24
 QUARTERLY SALES TREND

Quarterly Sales Value 4,051

3,248 3,252

2,574 2,520 2,409

2,254
(INR cr)

1,541

Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1FY24

Quarterly Sales Volume 5.3

4.4
4.2
3.6
(Million sq.ft.)

2.8 2.7
2.2 2.25

Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3FY23 Q4FY23 Q1FY24

12 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

BUSINESS DEVELOPMENT
Added 4 new projects with an estimated saleable area of ~3.7 million sq. ft. and expected booking
value of INR 6,450 crore between April-July 2023*
New Alipore, Kolkata
• Spread across approximately 7.44 acres, the project will offer 0.98 million sq. ft. of luxury residential development located at New Alipore, a
premium residential locality in Kolkata. New Alipore has an established physical and social infrastructure. The location offers excellent connectivity to
all major social and commercial hubs of Kolkata city
• The estimated revenue potential from the project is approximately INR 1,200 crore
• It is a 100% owned project

Gurugram 1
• Spread across approximately 15 acres, the project will offer 1.53 million sq. ft. of primarily premium residential development
• The estimated revenue potential from the project is approximately INR 2,150 crore
• It is a 100% owned project

Gurugram 2
• Spread across approximately 5.15 acres, the project will offer 0.59 million sq. ft. of luxury residential development located at prestigious Golf
Course Road micro-market. Golf Course Road is an established micro-market renowned for its upscale residential and commercial developments,
making it an attractive destination for real estate development
• The estimated revenue potential from the project is approximately INR 1,700 crore
• It is a 100% owned project

Gurugram 3
• Spread across approximately 2.76 acres, the project will offer 0.55 million sq. ft. of luxury residential development located at prestigious Golf
Course Road micro-market. Golf Course Road is an established micro-market renowned for its upscale residential and commercial developments,
making it an attractive destination for real estate development
• The estimated revenue potential from the project is approximately INR 1,400 crore
• It is a 100% owned project

*2 of the Gurugram projects were won in the auction held in May 2023 with the official allotment and announcement in July 2023.

13 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

BUSINESS DEVELOPMENT (Contd.)
Existing project update
Godrej Park, MMR
GPL’s economic interest: 100%
• GPL has increased its revenue share of 56.5% to 100%
• Spread across approximately 6.7 acres, the project will offer 1.2 million sq. ft. of residential development located at LBS Road,
Bhandup
• The bustling suburb of Bhandup is one of the preferred residential locations in Mumbai. The site is strategically located and offers a well
developed social and civic infrastructure with multiple schools, hospitals, retail, residential, and commercial spaces in close proximity

14 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

CONSTRUCTION HIGHLIGHTS
Delivered ~4.9 million sq. ft. in Q1 FY24

Godrej City, MMR Godrej Nature+, Gurugram Godrej Woods, Noida Godrej South Estate, NCR
0.55 million sq. ft. 0.39 million sq. ft. 1.29 million sq. ft. 0.58 million sq. ft.
GPL Economic Interest : GPL Economic Interest : GPL Economic Interest : GPL Economic Interest :
Profit Based - 35% Profit Share - 40% Profit Share – 49% 100% owned project

Plotted development projects which received OC:

Godrej Orchard Estate, Nagpur 1.19 million sq.ft.
GPL Economic Interest : 100% Owned Project

Godrej Garden City, Ahmedabad

0.91 million sq. ft.
GPL Economic Interest :
17% of revenue

15 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

LAUNCH TRACKER FY24
Launch timings are dependent on receipt of regulatory approvals and can be delayed substantially
beyond initial expectations
New Project Launches Planned in FY24 New Phase Launches Planned in FY24

Project City Launch Launch

Status Area* Project City Status Area*
#
Godrej Emerald Waters Pune 0.08 Mahalunge Pune 0.48
Chennai Plotted Chennai 1.53 Godrej Tranquil MMR 0.53
Old Madras Road (OMR) Bengaluru 1.10 Godrej Ananda Bengaluru 1.56
Sarjapur 5 Bengaluru 1.64 Godrej Park Retreat Bengaluru 0.69
Mundhwa Pune 0.38 Godrej Emerald Waters# Pune 0.60
Sector 49 NCR 0.98 Godrej Inifity Pune 0.41

Sector 89 NCR 0.8 MaanHinje Pune 0.87

Sec-41, Kurukshetra NCR 1.37 Manjari Pune 0.32

Sector 146 Noida 0.91 Godrej Seven Kolkata 0.36

Ashok Vihar NCR 0.70 Godrej Garden City Ahmedabad 0.45

Godrej Aria NCR 0.27
Mahalaxmi MMR 0.50
Godrej Palm Retreat NCR 0.46
Khalapur MMR 0.57
Godrej Nest NCR 0.33
Carmichael Road MMR 0.12
Total 7.33
Kandivali MMR 0.91
Worli MMR 0.40 Launched On - Track Delayed New Project/Phase Added

New Project/Phase Added & Launched | *in million sq. ft. | # Pimpri-Chinchwad
Vikhroli MMR 0.60
Total 12.59
16 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24
FY24 GUIDANCE
FY23 FY24 FY24 YTD Achievement Updated
Particulars
Actual Guidance Actual (%) Assessment*

Booking Value (INR Crore) 12,232 14,000 2,254 16%

Cash Collections (INR Crore) 8,991 10,000 1,954 20%

Deliveries (Million Sq. Ft.) 10.47 12.50 4.9 39%

Business Development (by expected booking value) (INR Crore) 32,325 15,000 6,450 43%

*Updated management assessment of initial FY 24 guidance

Guidance met On track to meet or exceed guidance Not on track to meet guidance

17 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

SUSTAINABILITY – ESG PERFORMANCE AND CSR IMPACT
ESG Rating • GPL published it’s second Integrated Report for FY 2022-23 along with Business Responsibility Sustainability Reporting (BRSR)
and Reporting • GPL remains a part of FTSE4Good Index Series

• We are proud to have achieved ISO 27001:2022 certification, an internationally recognized standard, for our Information Security
Management System
ESG

• We have successfully maintained our ISO 14001:2015 certification, an internationally recognized standard for Environment
Milestone Management System (EMS) across all our operations.
Achievements • With a vision to have a robust safety process and culture, all our projects continue to comply with standard safety requirements
and are ISO 45001:2018 certified for Occupational Health and Safety Management System (OH&SMS)
• Till Q1 of FY 2023-24, 94.97% of the GPL portfolio* is certified under credible external green building rating systems like IGBC,
GRIHA, LEED etc.
• Through our Solid Waste Management projects in Bhubaneswar, Agra, Budni, Gohad and Dhanpuri, GPL has diverted 9409
tonnes of waste in Q1 FY 23-24.
Ongoing • GPL has also extended its reach to construction workers in additional cities across Maharashtra along with Disha Foundation to
CSR Projects provide support towards providing additional schemes under BOCW Act.
• After successful implementation of Crop Residue Management project in 15 villages in Gurudaspur district Punjab in FY 22-23,
CSR

GPL is extending its reach to 30 villages in Gurdaspur for FY 23-24.

• GPL was recognized for the ‘Best Sustainable Waste Management Initiative’ by Transformance Forums at 4th Annual ESG
Summit and Awards 2023 for our Solid waste Management projects PAN India implemented along with Feedback Foundation
New CSR Projects Charitable Trust.
• GPL commissioned a handbook ‘Waste Matters: A Handbook to better manage Real Estate construction waste in India’ to
specifically understand the quantum, composition and distribution of waste generated at every stage of construction.

*Few projects are excluded from the portfolio boundary since they have been initiated/developed before our commitment towards delivering green buildings. Also, all plotted development projects are excluded
as no suitable green building certification is available for such developments

18 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

AWARDS AND RECOGNITIONS
GPL received 3 Project awards in Q1 FY24

ILLUSTRATIVE LIST OF AWARDS

GODREJ PROPERTIES PROJECT & INDIVIDUAL AWARDS

• 4th Annual ESG Summit and Awards, 2023 • Saurabh Mohindru, Chief Legal officer
Winner - Best Sustainable Waste Management Initiative BW Legal World Top 100 general counsel power list of 2022
• Godrej Parkridge, Pune
Winner- Platinum - Apex India Occupational Health & Safety Award - 2022

19 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

AGENDA
Overview 01

Q1 FY24 Operational Highlights 02

Q1 FY24 Financial Highlights

03
Annexure 04
CONSOLIDATED FINANCIAL STATEMENTS – P & L
(INR Cr)

Particulars Q1 FY24 Q1 FY23 % Change Q4 FY23 % Change FY23

Total Income 1,315 375 251% 1,930 -32% 2,998

Adjusted EBITDA* 317 132 140% 729 -57% 1,118
EBITDA** 230 116 98% 630 -64% 994
Profit before tax 193 76 154% 570 -66% 795
Net Profit after tax 125 46 174% 412 -70% 571
Adjusted Net Profit after Tax# 241 46 424% 412 -42% 571
#
Excluding provision of INR 155 crore made towards structural repair and maintenance and other ancillary expenses for Godrej Summit, NCR project.
Total Income = Sales & Operating Income + Other Income + Share of profit in Joint Venture | *Adjusted EBITDA = EBITDA + interest included in cost of sale
**EBITDA = PBT + Interest + Depreciation + Share of profit in Joint Venture | PBT = PBT + share of profit in Joint Venture | Note: All Numbers as per Ind AS

Total Income for Q1FY24 Profit & Loss form Joint Ventures with Structuring Income

Particulars INR Cr. Particulars INR Cr.

Godrej South Estate 468 Profit & Loss for Joint Ventures as reported in P&L 49

Godrej Orchard Estate 166 Add: Structuring Income

Godrej Green Estate 86 DM Fees from Joint Venture Projects 17

Godrej Urban Park 45 Net Interest Income from Joint Venture Projects 96

Godrej RKS 35 Profit & Loss for Joint Ventures including Structuring Income 162

Others 136

Interest and Other Income 330

Profit & Loss from Joint Venture 49

Total Income 1,315

21 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

CONSOLIDATED CASHFLOW
(INR Cr)

Notes Particulars Q1 FY24

Operating cashflow
Total operating cash inflow 2,233
A Operating cash outflow
Construction and related outflow -940
Other project related outflow -1,175
Total operating cash outflow -2,115
Net operating cashflow 118
Financial cashflow
B Interest and corporate taxes -204
Net financial cashflow -204
Capital cashflow
Land & approval related outflow -1,575
C
Advance to JV partners -113
Net capital cashflow -1,688
(A+B+C) Net cashflow -1,774
D Adjustment for JV projects 164
(A+B+C+D) Total net GPL cashflow -1,610
E Other Ind AS Adjustments -43
(A+B+C+D+E) (Increase)/Decrease in Net Debt under Ind AS -1,653
Note: 1) Total operating cash inflow includes gross collection for DM projects and Other project related outflow includes JVP share of collection for DM projects.
2) Adjustment for JV projects represents mainly timing difference in cash collection from customers in respective project SPV and pending transfer to GPL due to non-availability of
RERA limit and restriction in respective agreement with JV partners whereby GPL cannot withdraw cash till particular milestones are achieved.
22 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24
CONSOLIDATED FINANCIAL STATEMENTS - BS
(INR Cr)

Sr. No Particulars As on 30.06.2023 As on 31.03.2023

A Assets Unudited Audited

1 Non Current assets
a Property, plant & equipment 161.22 153.16
b Right-of-Use Asset 16.30 17.07
c Capital Work-in-Progress 677.30 652.44
d Investment Property 31.76 32.19
e Goodwill on consolidation 0.07 0.07
f Other intangible assets 14.76 15.19
g Intangible assets under development 0.85 0.85
h Equity accounted investees 792.67 786.25
i Financial assets
Other Investments 649.06 667.74
Trade Receivables 63.05 160.27
Loans - -
Other non – current financial assets 37.58 38.67
j Deferred tax assets (net) 337.93 331.51
k Income tax assets (net) 112.48 74.37
l Other non-current non-financial assets 41.31 3.01
Total non-current assets 2936.34 2,932.79
2 Current assets
a Inventories 14,650.92 12,073.40
b Financial assets
Investments 860.13 1,080.47
Trade receivables 315.74 359.38
Cash and cash equivalents 444.05 714.81
Bank balances other than above 1,294.27 1,301.13
Loans 1,855.49 2,394.86
Other current financial assets 1,018.86 1,330.44
c Other current non-financial assets 1,223.09 918.02
Total current assets 21,662.56 20,172.51
Total Assets 24,598.90 23,105.30

23 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

CONSOLIDATED FINANCIAL STATEMENTS - BS
(INR Cr)
Sr. No Particulars As on 30.06.2023 As on 31.03.2023
B Equity and Liabilities Unaudited Audited
1 Equity
a Equity share capital 139.01 139.01
b Other equity 9,250.38 9,125.19
c Non-controlling interest 1.43 22.95
Total Equity 9,390.83 9,287.15
2 Liabilities
2.1 Non Current Liabilities
a Financial liabilities
Borrowings - -
Lease Liabilities 10.85 10.90
Other Non - Current Financial Liabilities 6.42 5.00
b Provisions 16.60 16.09
Total Non-Current Liabilities 33.87 31.99
2.2 Current Liabilities
a Financial liabilities
Borrowings 7,563.37 6,411.75
Lease Liabilities 7.34 8.11
Trade payables
Total Outstanding Dues of Micro Enterprises and Small Enterprises 59.23 62.57
Total Outstanding Dues of Creditors other than Micro Enterprises and Small Enterprises 3,034.26 3,294.05
Other Current Financial Liabilities 534.61 830.15
b Other Current Non Financial Liabilities 3,859.32 3,096.41
c Provisions 37.48 46.22
d Current Tax Liabilities (Net) 78.61 36.90
Total Current Liabilities 15,174.21 13,786.16
Total Liabilities 15,208.08 13,818.15
Total Equity and Liabilities 24,598.90 23,105.30

24 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

FINANCIAL ANALYSIS
Profitability Indicators
(INR Cr)

Particulars Q1 FY24 Q1 FY23 Q4 FY23 FY23

Adjusted EBITDA / Total Income* 24.1% 35.2% 37.7% 37.3%

EBITDA / Total Income** 17.5% 30.9% 32.6% 33.1%

PBT Margin % 14.7% 20.3% 29.5% 26.5%

Net Profit Margin %# 9.5% 12.2% 21.4% 19.1%

*Adjusted EBITDA = EBITDA + interest included in cost of sale

**EBITDA = PBT + Interest + Depreciation + Share of profit in Joint Venture
#Net profit after minority interest

Leverage Indicators

Particulars As on 30th Jun 2023 As on 31st Mar 2023 As on 30th Jun 2022

Net Debt (INR Cr) 5,298 3,649 956

Networth (INR Cr) 9,389 9,264 8,721

Net Debt / Equity Ratio 0.56 0.39 0.11

Average Borrowing Cost (YTD) 7.75% 6.65% 6.04%

Note: All Numbers as per Ind AS

25 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

AGENDA
Overview 01

Q1 FY24 Operational Highlights 02

Q1 FY24 Financial Highlights 03

Annexure
04
A. RESIDENTIAL PROJECTS

27 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

A. RESIDENTIAL PROJECTS

*GPL's economic interest increased to 100% during the quarter from 74% earlier

28 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

A. RESIDENTIAL PROJECTS

*GPL's economic interest increased to 100% during the quarter from 74% earlier
#GPL's economic interest increased to 100% during the quarter from 58% profit share earlier

29 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

A. RESIDENTIAL PROJECTS

#GPL's economic interest increased to 100% during the quarter from 56.5% revenue share earlier. Saleable area has also increased to 1.2 msf from 0.77 msf

30 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

A. RESIDENTIAL PROJECTS

*Total estimated saleable area represents GPL share balance area to be sold
$ Total Saleable area has been reduced from 1.20 msf due to non-fulfillment of certain obligations by JVP

31 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

B. COMMERCIAL PROJECTS
I. Commercial Projects (Build to Sale)

*Primarily a residential project with a portion of commercial saleable area

ii. Commercial Projects (Build to Lease)

iii. Commercial Projects (Build to Operate)

32 | GODREJ PROPERTIES I RESULTS PRESENTATION Q1 FY24

THANK YOU

For further information, please contact:

Rajendra Khetawat
Godrej Properties Limited
Tel: +91 22 6169 8500
Fax: +91 22 6169 8888
Email: [email protected]
 GODREJ PROPERTIES LIMITED
CIN : L74120MH1985PLC035308
Registered and Corporate Office: Godrej One, 5th Floor, Pirojshanagar, Vikhroli (E), Eastern Express
Highway, Mumbai – 400079

PRESS RELEASE

Consolidated Financials for Q1 FY24 Results

 Total Income grew by 251% to INR 1,315 crore and net profit grew by 174% to
INR 125 crores.
 Bookings declined by 11% to 2,254 crore
 Added 4 new projects with a total estimated booking value of ~INR 6,450 Crore
in April-July 2023
 Projects aggregating ~4.9 million sq. ft. delivered in Q1 FY24

Mumbai, August 02, 2023: Godrej Properties Limited (GPL), a leading national real estate
developer, announced its financial results for the first quarter ended June 30, 2023.

CORPORATE HIGHLIGHTS:

Sales Highlights
 Q1 FY24 witnessed total booking value of INR 2,254 crore with 2.25 million sq. ft. of
area sold during the quarter.
 Sustenance sales grew by 19% year-on-year to INR 1,816 crores during Q1 FY24.
 3 new projects/phases launched during the quarter.

Business Development
 Added 4 new projects with a total estimated saleable area of ~3.7 million sq. ft. and
total estimated booking value of ~INR 6,450 Crore in April-July 2023
 Particulars Estimated Expected Business Model
Saleable Area Booking Value
(million sq. ft.) (INR Cr)
100% owned group housing
New Alipore, Kolkata 0.98 1,200
development project
100% owned group housing
Gurugram 1 1.53 2,150
development project
100% owned group housing
Gurugram 2* 0.59 1,700
development project
100% owned group housing
Gurugram 3* 0.55 1,400
development project

Total 3.65 6,450

*2 of the Gurugram projects were won in the auction held in May 2023 with the official allotment
and announcement in July 2023.

Other Highlights
 Collections grew by 26% to INR 1,954 crore in Q1 FY24, leading to net operating cash
flow growth of 436% to INR 118 crore in Q1 FY24
 Delivered ~4.9 million sq. ft. across 4 markets in Q1 FY24
 GPL received 3 awards in Q1 FY24

Commenting on the performance of Q1 FY2024, Mr. Pirojsha Godrej, Executive

Chairperson, Godrej Properties Limited, said:

“While it was a muted start to the year from a bookings perspective, Godrej Properties saw
strong traction in deliveries, business development, cash collections, and earnings in Q1 FY
24. With a robust launch pipeline, strong balance sheet, and resilient demand, we are on-track
to achieve our bookings target of INR 14,000 crore in FY24 while also achieving our highest
ever deliveries and collections performance.”
Financial Overview (Consolidated)

Q1 FY24 performance overview compared with Q1 FY23

 Total Income grew by 251% to INR 1,315 crore as compared to INR 375 crore
 EBITDA grew by 98% to INR 230 crore as compared to INR 116 crore
 Net Profit grew by 174% to INR 125 crore as compared to INR 46 crore
 EPS# amounted to INR 4.59 as compared to INR 1.64
#
not annualised

--ENDS--

About Godrej Properties Limited:

Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and
excellence to the real estate industry. Each Godrej Properties development combines a 126-
year legacy of excellence and trust with a commitment to cutting edge design, technology, and
sustainability. In FY 2021, Godrej Properties emerged as the largest developer in India by the
value and volume of residential sales achieved.

Godrej Properties has deeply focused on sustainable development. In 2010, GPL committed
that all of its developments would be third party certified green buildings. In 2020 and again in
2021 and 2022, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally
amongst listed residential developers for its sustainability and governance practices. In 2017,
GPL was one of the founding partners of the Sustainable Housing Leadership Consortium
(SHLC), whose mission is to spread sustainable development practices across the Indian real
estate sector. In recent years, Godrej Properties has received over 400 awards and
recognitions, including the Porter Prize 2019, The Most Trusted Real Estate Brand in the 2019
Brand Trust Report, Builder of the Year at the CNBC-Awaaz Real Estate Awards 2019, and
The Economic Times Best Real Estate Brand 2018.

For further information please contact:

Rajendra Khetawat Anurag David

Chief Financial Officer Corporate Communications
Godrej Properties Limited Godrej Industries Limited
Tel: +91 22 6169 8500 Email: [email protected],
Fax: +91 22 6169 8888 Mobile: +91 93225 01136
Email: [email protected]
DISCLAIMER:
Some of the statements in this communication may be ‘forward looking statements’ within the
meaning of applicable laws and regulations. Actual results might differ substantially from those
expressed or implied. Important developments that could affect the Company’s operations
include changes in the industry structure, significant changes in political and economic
environment in India and overseas, tax laws, import duties, litigation and labour relations.