Operating performance also weakened, with EBITDA dropping 40% YoY to Rs 545 crore, compared with Rs 915 crore in Q1 FY26.

Despite the decline in earnings, the company delivered strong operational performance. Booking value increased 22% YoY to Rs 8,651 crore in Q1 FY27, driven by the sale of 3,738 units covering a total area of 6.2 million sq. ft.

The quarter's bookings were supported by robust demand across new project launches, including Godrej Vanantara in Bengaluru, which generated Rs 3,237 crore in bookings, Godrej Samaris in Gurugram with Rs 1,248 crore, and Godrej Brooklyn Avenue in Hyderabad, contributing Rs 317 crore.

Region-wise, Bengaluru accounted for 44% of total bookings, followed by the Mumbai Metropolitan Region (MMR) at 21%, National Capital Region (NCR) at 18%, Pune at 11%, and Hyderabad at 5%.

The company reported collections of Rs 4,348 crore during the quarter, up 18% YoY, while operating cash flow (OCF) stood at Rs 399 crore. Construction and related outflows increased 54% YoY during the period.

Pirojsha Godrej, Executive Chairperson, Godrej Properties, said, 'Godrej Properties delivered another solid quarter for bookings, collections, business development and earnings. We expect the sales momentum to continue for rest of the year led by strong end-user demand across key markets. We remain on track to deliver on bookings of over Rs 39,000 crore and collections of Rs 24,000 crore for the year, which will allow us to generate approximately Rs 9,000 crore of operating cash flow, which in turn will allow us to continue to invest in sustainable growth. We will continue to seek to gain market share through outstanding design, timely delivery, and high-quality developments.”

Godrej Properties is a leading national real estate developer. It is a real estate arm of the Godrej Group. The company currently operates in various cities and focuses on residential, commercial, and township development.