In a strategic move, Godrej Properties has acquired all the equity shares of Pearlshine Home Developers, making it a fully-owned subsidiary. This acquisition further enhances the company’s growth in real estate development, the company said in a press release on the stock exchange.
On February 3, 2025, Godrej Properties announced the complete acquisition of Pearlshine Home Developers (PHDPL), obtaining 100% of the company’s equity shares. This makes PHDPL a fully-owned subsidiary of Godrej Properties.
Pearlshine Home Developers, incorporated on October 9, 2023, is involved in real estate development. The acquisition is expected to strengthen Godrej Properties’ position in the sector, contributing to its growth plans.
Godrej Properties’ Q3 profit soared 161% YoY to ₹162.64 crore, though sales slightly dipped. The firm raised ₹6,000 crore equity for growth. The company posted a substantial 193.21% YoY rise in its revenue from operations, reaching ₹968.88 crore.
This growth was attributed to a surge in earnings before interest, taxes, depreciation, and amortisation (EBITDA), which rose by 85% to ₹280 crore. Although profit figures surged, sales experienced a 4.8% YoY decline, settling at ₹5,446 crore. However, this marked the sixth consecutive quarter where sales exceeded ₹5,000 crore.
The company raised ₹6,000 crore through a qualified institutional placement (QIP) to fuel its expansion initiatives. Additionally, Godrej Properties added seven new projects across four major cities in India.
For the first nine months of FY25, Godrej Properties recorded a 48% YoY growth in sales to ₹19,281 crore, reaching 71% of its annual target. With a robust pipeline and strong demand, the company is on track to exceed its sales guidance of ₹27,000 crore for FY25.
Godrej Properties saw a solid performance, with its share price closing at ₹2,389, reflecting a gain of ₹69.25 or 2.99% from the previous session on the NSE.
The stock had a high of ₹2,422.00 and a low of ₹2,328.15 during the day. The opening price was ₹2,350.00, and the indicative close was ₹2,389.41.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Feb 4, 2025, 4:50 PM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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