GODREJ PROPERTIES 2024-25 Annual Report Analysis

Mon, 7 Jul

GODREJ PROPERTIES has announced its results for the year ended March 2025. Let us have a look at the detailed performance review of the company during FY24-25.

GODREJ PROPERTIES Income Statement Analysis

• Operating income during the year rose 62.2% on a year-on-year (YoY) basis.
• The company's operating profit was by NA YoY during the fiscal. Operating profit margins witnessed a growth and down at 1.5% in FY25 as against 3.4% in FY24.
• Depreciation charges increased by 65.3% and finance costs increased by 14.2% YoY, respectively.
• Other income grew by 57.4% YoY.
• Net profit for the year grew by 86.0% YoY.
• Net profit margins during the year grew from 24.6% in FY24 to 28.2% in FY25.

GODREJ PROPERTIES Income Statement 2024-25

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*	% Change
Net Sales	Rs m	30,356	49,228	62.2%
Other income	Rs m	12,986	20,442	57.4%
Total Revenues	Rs m	43,342	69,671	60.7%
Gross profit	Rs m	-1,019	-742	NA
Depreciation	Rs m	446	737	65.3%
Interest	Rs m	1,521	1,737	14.2%
Profit before tax	Rs m	10,000	17,226	72.3%
Tax	Rs m	2,529	3,334	31.8%
Profit after tax	Rs m	7,471	13,892	86.0%
Gross profit margin	%	-3.4	-1.5
Effective tax rate	%	25.3	19.4
Net profit margin	%	24.6	28.2

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GODREJ PROPERTIES Balance Sheet Analysis

• The company's current liabilities during FY25 stood at Rs 338 billion as compared to Rs 227 billion in FY24, thereby witnessing an increase of 48.6%.
• Long-term debt stood at Rs 40 billion as compared to Rs 27 billion during FY24, a growth of 50.4%.
• Current assets rose 58% and stood at Rs 511 billion, while fixed assets rose 38% and stood at Rs 41 billion in FY25.
• Overall, the total assets and liabilities for FY25 stood at Rs 553 billion as against Rs 354 billion during FY24, thereby witnessing a growth of 56%.

GODREJ PROPERTIES Balance Sheet as on March 2025

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*	% Change
Networth	Rs m	99,845	173,027	73.3
Current Liabilities	Rs m	227,320	337,695	48.6
Long-term Debt	Rs m	26,600	40,000	50.4
Total Liabilities	Rs m	354,292	552,613	56.0
Current assets	Rs m	324,502	511,444	57.6
Fixed Assets	Rs m	29,790	41,170	38.2
Total Assets	Rs m	354,292	552,613	56.0

GODREJ PROPERTIES Cash Flow Statement Analysis

• GODREJ PROPERTIES's cash flow from operating activities (CFO) during FY25 stood at Rs -22 billion, an improvement of 223.8% on a YoY basis.
• Cash flow from investing activities (CFI) during FY25 stood at Rs -43 billion, an improvement of 107.1% on a YoY basis.
• Cash flow from financial activities (CFF) during FY25 stood at Rs 67 billion, an improvement of 106% on a YoY basis.
• Overall, net cash flows for the company during FY25 stood at Rs 2 billion from the Rs 6 billion net cash flows seen during FY24.

GODREJ PROPERTIES Cash Flow Statement 2024-25

Particulars	No. of months	12	12	% Change
	Year Ending	Mar-24	Mar-25
Cash Flow from Operating Activities	Rs m	-6,926	-22,424	-
Cash Flow from Investing Activities	Rs m	-20,798	-43,074	-
Cash Flow from Financing Activities	Rs m	32,580	67,095	105.9%
Net Cash Flow	Rs m	5,912	1,944	-67.1%

Current Valuations for GODREJ PROPERTIES

• The trailing twelve-month earnings per share (EPS) of the company stands at Rs 46.1, an improvement from the EPS of Rs 26.9 recorded last year.
• The price to earnings (P/E) ratio, at the current price of Rs 2,305.8, stands at 46.1 times its trailing twelve months earnings.
• The price to book value (P/BV) ratio at current price levels stands at 4.0 times, while the price to sales ratio stands at 14.1 times.
• The company's price to cash flow (P/CF) ratio stood at 54.6 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*
Sales per share (Unadj.)	Rs	109.2	163.5
TTM Earnings per share	Rs	26.9	46.1
Diluted earnings per share	Rs	24.8	46.1
Price to Cash Flow	x	87.5	54.6
TTM P/E ratio	x	96.3	46.1
Price / Book Value ratio	x	5.0	4.6
Market Cap	Rs m	496,374	798,720
Dividends per share (Unadj.)	Rs	0.0	0.0

Ratio Analysis for GODREJ PROPERTIES

• Solvency Ratios

Current Ratio: The company's current ratio improved and stood at 1.5x during FY25, from 1.4x during FY24. The current ratio measures the company's ability to pay short-term and long-term obligations.

Interest Coverage Ratio: The company's interest coverage ratio improved and stood at 10.9x during FY25, from 7.6x during FY24. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

• Profitability Ratios

Return on Equity (ROE): The ROE for the company improved and stood at 8.0% during FY25, from 7.5% during FY25. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

Return on Capital Employed (ROCE): The ROCE for the company declined and down at 8.9% during FY25, from 9.1% during FY24. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

Return on Assets (ROA): The ROA of the company improved and stood at 2.8% during FY25, from 2.5% during FY24. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending		12 Mar-24*	12 Mar-25*
Current ratio	x	1.4	1.5
Debtors’ Days	Days	4	3
Interest coverage	x	7.6	10.9
Debt to equity ratio	x	0.3	0.2
Return on assets	%	2.5	2.8
Return on equity	%	7.5	8.0
Return on capital employed	%	9.1	8.9

To see how GODREJ PROPERTIES has performed over the last 5 years, please visit here.

GODREJ PROPERTIES Share Price Performance

Over the last one year, GODREJ PROPERTIES share price has moved down from Rs 3,280.9 to Rs 2,305.8, registering a loss of Rs 975.2 or around 29.7%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 7,527.1 (down 0.2%). Over the last one year it has moved down from 8,740.7 to 7,527.1, a loss of 1,214 points (down 13.9%).

Overall, the S&P BSE SENSEX is up 4.2% over the year.

(To know more, check out historical annual results for GODREJ PROPERTIES and quarterly results for GODREJ PROPERTIES)