Pirojsha Godrej, Executive Chairman, Godrej Properties | Photo credit: SHASHI ASHIWAL
In an interview with PTI, he noted that the housing market has stabilized after witnessing crazy growth a few years into the COVID pandemic.
Pirojsha exuded confidence that the company would easily achieve its target of ₹32,500 crore in sales bookings for this fiscal.
The company would also meet annual guidelines on other key metrics – raising funds from customers, project delivery, launches and business development (addition of plots for future projects), he said.
“The housing market as a whole is holding steady. There is a lot of talk about market softening… But what we are seeing remains quite strong,” Pirojsha said, highlighting the company’s strong sales bookings over the past calendar year across all major cities including Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Pune and Hyderabad.
He said the company’s pre-sales of properties in tier II cities like Panipat have been very encouraging.
“If you look at a typical real estate cycle, you first go through that initial recovery phase, then you go through a few years of very rapid price and volume growth, and then you get to a more stable state. I think we are in that more stable state where prices are doing well, volumes are also strong, but not that crazy growth of a few years ago,” Pirojsha noted.
According to reports from real estate consultants, residential sales in the calendar year 2025 declined in volume in seven to eight major cities but increased in value due to the price increase.
Talking about the company’s operational performance in the first nine months of this fiscal, he said sales bookings grew 25 per cent to Rs 24,008 crore and would achieve the target of ₹32,500 crore for the entire fiscal 2025-2026.
“So we are on track to meet the sales booking guidelines, hopefully we can do a little better,” he said.
On collections, Pirojsha said it grew 19 per cent to ₹12,018 crore in the first nine months of this fiscal and hoped to achieve the annual target of ₹21,000 crore.
“We still have a long way to go in terms of the guidelines, but we have always said that January-March will be a big quarter because there are a lot of deliveries planned in the fourth quarter, so collections will also be much higher this quarter. So we are still hopeful that we can deliver the guidelines,” he said.
In terms of project delivery, Pirojsha said the company would exceed its annual target of 10 million square meters upon completion. Nearly 5 million square feet have been completed in the nine months of this fiscal and many deliveries are expected in the current quarter.
On the land acquisition front, the company’s executive chairman said it has acquired 12 plots, with an estimated salable area of 22.36 million sq ft and an expected booking value of ₹24,650 crore.
“The target was to add ₹20,000 crore worth of projects. We have exceeded our annual expectations. We expect another good quarter in business development,” he said.
In terms of financial performance, Godrej Properties recently reported a 23 per cent increase in consolidated net profit to ₹193.87 crore for the quarter ended December despite lower revenues.
Net profit stood at ₹158.20 crore in the year-ago period.
Total income fell to ₹1,033.84 crore in the third quarter of this fiscal, against ₹1,239.97 crore in the corresponding period of the previous year.
Godrej Properties is one of the leading real estate developers in the country.
The company became the largest listed real estate developer in the financial year 2024-25, with record sales bookings of ₹29,444 crore.
Published on February 8, 2026
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