Godrej Properties Limited

4.24 million

f the volume and value of real estate sold. We sold 3,699 homes during the quarter with an area of 4.24 million square feet and the value of INR 3,248 crore, representing a quarter-on-quarter value growth of 1

INR 3,248 crore

We sold 3,699 homes during the quarter with an area of 4.24 million square feet and the value of INR 3,248 crore, representing a quarter-on-quarter value growth of 111 % and a year-on-year value growth of 23% ov

111 %

n square feet and the value of INR 3,248 crore, representing a quarter-on-quarter value growth of 111 % and a year-on-year value growth of 23% over what was our previous best ever quarter. This resulted

23%

crore, representing a quarter-on-quarter value growth of 111 % and a year-on-year value growth of 23% over what was our previous best ever quarter. This resulted in our 5th consecutive year of record

INR 7,861 crore

r previous best ever quarter. This resulted in our 5th consecutive year of record annual sales of INR 7,861 crore despite the tremendous volatility this sector has undergone during this period. We also recorded

INR 2,678 crore

s undergone during this period. We also recorded our highest ever residential cash collections of INR 2,678 crore during the fourth quarter. These collections led to our highest ever net operating cash flow of IN

INR 1,045 crore

re during the fourth quarter. These collections led to our highest ever net operating cash flow of INR 1,045 crore and for the full year our residential collections grew by 57% to nearly INR 7,000 crore. We launch

57%

operating cash flow of INR 1,045 crore and for the full year our residential collections grew by 57% to nearly INR 7,000 crore. We launched 9 projects or phases during the fourth quarter and received

INR 7,000 crore

sh flow of INR 1,045 crore and for the full year our residential collections grew by 57% to nearly INR 7,000 crore. We launched 9 projects or phases during the fourth quarter and received a strong response to all

INR 1,650 crore

received a strong response to all of them. Our project Godrej Woods in Noida delivered sales worth INR 1,650 crore within a year of its launch, making GPL the most successful residential launch by booking value to

6%

esidential launch by booking value to date. Whilst sustenance sales of the financial year grew by 6% to INR 4,826 crore, we are happy to note that our new launch sales increased by 40% to over INR 3,

INR 4,826 crore

tial launch by booking value to date. Whilst sustenance sales of the financial year grew by 6% to INR 4,826 crore, we are happy to note that our new launch sales increased by 40% to over INR 3,000 crore. On the o

“Our project Godrej Woods in Noida delivered sales worth INR 1,650 crore within a year of its launch, making GPL the most successful residential launch by booking value to date.”

“With a large number of project completions in the last � I PROPERTIES quarter, GPL recorded its highest ever-reported numbers on a quarterly and annual basis.”

“While the pace of new project additions in the first half of the financial year was a little slow, we added several projects during the second half of the year.”

“7 million square feet housing project in Kandivali in Mumbai, which will add an estimated further INR 1,000 crore of booking value.”

“In addition to the new projects we have already announced, we have a robust pipeline of new development opportunities, and we are confident new project additions will pick up substantially in financial year '23.”

“We are optimistic that the financial year ahead will be a strong year for Godrej Properties.”

“We hope to grow residential bookings to over INR 10,000 crore this year through the launch of a large number of exciting new projects combined with strong sustenance sales.”

“This combined with strong project deliveries should allow us to maintain rapid growth in operating cash flows.”

“One of our biggest priorities for the year will be to add a large number of new projects to our portfolio, which in turn will set us up well to remain on a rapid growth trajectory.”

“My first question is with respect to your FY '23 launch guidance.”

Pirojsha Godrej

28

Rajendra Khetawat

17

Mohit Malhotra

17

Venkat Samala

12

Moderator

9

Abhinav Sinha

6

Puneet

5

Kunal Lakhan

5

Samar Sarda

3

Mohit Agarwal

3

Pirojsha Godrej

� I PROPERTIES Godrej Properties Limited Ladies and gentlemen, good day and welcome to the Earnings Conference Call of Godrej Properties Limited. As a reminder all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing "*" then "O" on your touch tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Mit Shah of CDR India. Thank you and over to you, sir. Thank you. Good evening everyone and thank you for joining us on Godrej Properties Q4 FY '22 earnings conference call. We have with us, Mr. Pirojsha Godrej, Executive Chairman; Mr. Mohit Malhotra, Managing Director and CEO; and Mr. Rajendra Khetawat, the CFO of the company. We would like to begin the call with the brief opening remarks from the management following which we'll have the forum open for an interactiv

Puneet

Okay. And this is also likely to be an important year from delivery perspective, right? Any sense of what is likely to be delivery target for FY '23.

Pirojsha Godrej

Yes, I think it will be a big year for deliveries as you've said. I think we did about 6.5 million square feet in the last financial year. I think that number should at least cross 10 million square feet in the current year, if not more than that.

Puneet

Thank you, understood. And my last question is, if I look at your cash flow statement, you have broadly being spending close to INR 2,000 crore a year on development costs and you alluded to business development being the I PROPERTIES biggest priority for the current year. So, what kind of number should we pencil in for that?

Rajendra Khetawat

Yes, so Puneet, basically the construction as the progress of the projects across the sites are going up, so construction costs will also proportionately increase. And like if you see the operating cash flow, we have been able to do INR 1,750 for the year, so hopefully this operating cash flow would be positive and will be stronger as more and more projects keep getting into the launch and to the cash flow cycle. As you rightly said about the cash flow would be for the new BD purpose. That obviously would continue for at least a year or 2 where we are investing into the new BD opportunities. Otherwise operating wise, I think the cash flow would be healthy and we expect this should grow further.

Puneet

But the BD cash flow which is land approval and advanced to JV partners what can that number becomes from current --