Godrej Properties Q2 FY27 Results: Consolidated Net Profit ₹145 Crore on Total Income of ₹2,572 Crore
Earnings
Real estate
Blacklitt Research3 min read
Nicolas Vigier, via Wikimedia Commons (CC0). Illustrative image.
Godrej Properties (NSE: GODREJPROP) reported consolidated total income of ₹2,571.73 crore and consolidated net profit of ₹145.47 crore for the quarter ended 30 Sep 2026, it said in a filing on 23 Oct 2026. Standalone total income was ₹729.20 crore and standalone net profit ₹80.76 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹2,571.73 crore, up 31.9% YoY and 91.2% QoQ
Net profit and EPS: ₹145.47 crore, down 63.9% YoY; basic EPS ₹5.12 against ₹13.45
Revenue from operations: ₹1,935.17 crore, up 161.4% YoY; other income ₹636.56 crore, down 47.4%
Finance costs: ₹37.41 crore, up 73.9% YoY
Standalone
The company on its own, without its subsidiaries
Total income: ₹729.20 crore, up 10.4% YoY and 26.2% QoQ
Net profit and EPS: ₹80.76 crore, up 520.8% YoY; basic EPS ₹2.68 against ₹0.43
Finance costs: ₹123.91 crore, up 4.3% YoY and 34.2% QoQ
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
2,571.73
1,950.05
+31.9%
1,345.04
+91.2%
Revenue from operations
1,935.17
740.38
+161.4%
506.17
+282.3%
Other income
636.56
1,209.67
-47.4%
838.87
-24.1%
145.47
402.99
-63.9%
349.38
-58.4%
Profit before tax
98.38
565.93
-82.6%
479.71
-79.5%
Finance costs
37.41
21.51
+73.9%
35.54
+5.3%
Depreciation
35.38
26.35
+34.3%
30.12
+17.5%
Tax expense
-47.09
163.07
n/a
130.33
n/a
Net profit margin
5.66%
20.67%
-15.01 pp
25.98%
-20.32 pp
EPS, basic (₹)
5.12
13.45
-61.9%
11.62
-55.9%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated revenue from operations rose to ₹1,935.17 crore from ₹740.38 crore a year earlier, while other income fell to ₹636.56 crore from ₹1,209.67 crore. Other income was 24.8% of total income this quarter, against a much larger share in the year-earlier quarter, so the income base has shifted towards operations.
Net profit fell 63.9% to ₹145.47 crore while total income rose 31.9%. Profit before tax fell 82.6% to ₹98.38 crore, and the tax line was a credit of ₹47.09 crore, so the profit after tax fell by less than pre-tax profit. Net profit attributable to owners was ₹154.15 crore, and non-controlling interests took a loss of ₹8.68 crore.
The notes say the consolidated other income includes fair value gains on relinquishment of joint control and on acquisition of control, and a gain of ₹16.25 crore on the stake divestment in Godrej Skyview LLP. The filing does not quantify the fair value gains in the text read, and it does not say whether they recur. The gain or loss on two joint venture partner exits is recorded under other expenses, and its amount is not stated.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
729.20
660.33
+10.4%
577.61
+26.2%
Revenue from operations
111.83
92.26
+21.2%
121.10
-7.7%
Other income
617.37
568.07
+8.7%
456.51
+35.2%
80.76
13.01
+520.8%
56.17
+43.8%
Profit before tax
68.67
25.25
+172.0%
80.22
-14.4%
Finance costs
123.91
118.85
+4.3%
92.31
+34.2%
Depreciation
22.88
16.07
+42.4%
18.55
+23.3%
Tax expense
-12.09
12.24
n/a
24.05
n/a
Net profit margin
11.08%
1.97%
+9.10 pp
9.72%
+1.35 pp
EPS, basic (₹)
2.68
0.43
+523.3%
1.86
+44.1%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose to ₹80.76 crore from ₹13.01 crore, faster than total income, which rose 10.4%. Standalone profit before tax rose 172.0% to ₹68.67 crore, and a tax credit of ₹12.09 crore lifted profit after tax above it.
Standalone other income of ₹617.37 crore is 84.7% of total income this quarter. Finance costs rose 4.3% YoY and 34.2% QoQ to ₹123.91 crore, which is 17.0% of total income. The standalone figures are restated for the Embellish Houses amalgamation, which the notes say is accounted for from 23 Sep 2025.
Consolidated net profit of ₹145.47 crore is ₹64.71 crore higher than standalone net profit of ₹80.76 crore. The standalone and consolidated results are both reviewed with an unmodified limited review conclusion from the statutory auditors.
Inference
The results show a sharp shift in the consolidated income mix: revenue from operations is now the larger part, and the filing does not explain the rise in revenue from operations from ₹506.17 crore in the prior quarter. The notes do not say whether the fair value gains recur, which matters for how much of total income is repeatable.
The per-share figures move with the profit: basic EPS was ₹5.12 consolidated and ₹2.68 standalone. The filing reports a dividend payment of ₹301.23 crore in the half year cash flows, but the text read does not give a record date or a dividend declared for this quarter.
Not stated in the filing: the reason for the fall in consolidated profit against income, the amount of the joint venture exit gain or loss, and the reason for the rise in standalone finance costs.
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GODREJPROPGodrej Properties Ltd.
