Gaurav Pandey’s Post

Transcript

On the reality Pack itself, because we have the management of Goldfish Properties joining us on the show right now, we have Mr. Gaurav Pandey, who is the Managing Director and Chief CEO at Godrej Properties joining us. A very good morning to you, Mr. Pandey. Thanks so much for joining us on ET Now. And if you look at your numbers on New Year and your numbers year in your base is your numbers are good sequentially. However, we've seen a drop in bookings as well as the area sold. Is this seasonality at play or are you seeing an overall drop in demand when you talk about the real estate sector? If it's a typical seasonality of our business, the only difference is that this year in quarter two we saw sharp period hitting in later part of the quarter 2, which last year was happening in the early part of quarter three. But yes, I mean that aside in spite of that a quarter 2 numbers, when you look at it from a year on year quarter 2 performance itself is also a a sort of a growth. OK. Point taken on that. You've already achieved 51% of your guidance in the first half of the year. So you'll come comfortably seal through the 27,000 guidance that you had earmarked for yourself or are you looking at upping that now? I mean, yes, I mean this is looking to be very, very exciting year for us purely because we've been able to get a great head start for us during the year. As you rightly mentioned, you know we've done 51% of our annual guidance and currently stand at about 13,800 plus crores, which is like a 90%. Why on why growth. Having said that, at the moment we're not really revising our guidance, but yes, there is a reasonable good probability that there could be upside risk to that. Ortiz has seen has been on a land acquisition spree, acquiring a lot of land amdavad plots in Mr. Why? And what is the total revenue potential that you would unlock because of this? You know the business development strategy for us has been very, very exciting. If you try and see our delivery on the locking of BD this year from a GDP point of view, we had given a guidance of about 20,000 crores and you know between quarter 1/4 to and the transactions we've announced till date in quarter three, our current deliveries times of locking over 17,450 crores which is 87% of annual guidance. So yes, we should be able to. Kind of beat this guidance and hopefully within a month. Share with us then what will be the delivery timeline guidance as well? On the delivery perspective, which is our construction and all, I mean if you see we had given a guidance of 15,000, 000 square feet of occupancy certificate slash delivery of projects within this year. And we are very delighted to say that 1/4 to performance has ensured that we've got a 6.6 million square feet of deliveries which has ensured that H1 performance right now is about 9.3 million square feet. And you know 6.6 is what used to be used to deliver in a year just to be financial years back so. Is a massive delivery ramp up which we've been able to deliver and it's also kind of impacting other KPIs. On one hand we are seeing a massive jump in collections. We've done about 7000 crores of collections in H1, which is our sort of a 62% why you know why growth leading to an operating cash flow positive of 2800 plus Square Rd. which is like a 204 percent why and why growth and leading again because of great deliveries in H1 are bad profile is at an all time high, you know if you just look at quarter 2. Performance, it's been like 355 Watt crores or 335 crores, which is like you know sort of a 400% kind of a jump. And Wyatt, we've done H1 rather we've done 855 crores of PAT, which is higher than what we used to deliver last full year. So yes, delivery is as a KPI has been a huge area of focus for us and the fact it is happening as early as Edge 1. You know, we're able to move other KPIs because of this focus, right? Let's talk about the new launches then. What's your pipeline coming in for the new launches going ahead? And also if you could shed some light on the FY25 pipeline that you had targeted, Are you all set to meet that launch pipeline for that as well? Yeah, I'm quite confident, right. I've been one-on-one hand, of course, we've gone 51% of the annual guidance from a booking value perspective. But yes, our launch pipeline is even more exciting in Edge 2. If I would just give you some of the launch names that we're looking at and opening up one, we are coming in quite a big way in Gurgaon in Golf Course Rd. Yes, this is being sort of a very important area of focus for us because this is the one of the most prime micro markets of India and finally goodish property is going to enter. Golf course would be the first launch hitting within this quarter and hopefully back-to-back launches even next quarter you'll see in golf course what happening from us. We're going to do something within this year in Sector 44, Noida, a very, very prime piece of land parcel we managed to acquire through auctions earlier. Then coming down to Mumbai, Mumbai has a project launch for us earlier part of this calendar year by the name of Goodridge Reserve, which is currently Bombay's highest residential sales till date. And we will finally open a new phase of that. Particular project, so very excited on this specific project. We'll also open a new tower in a project by the name of Gotrich Avenue 11, which is in Mahalakshmi, one of the prime micro markets of South Bombay. Moving, we will of course try and have launches in Panvel Micro Market where we have a large Township. Further South, again, we will enter Hyderabad. Finally, this is one city we were very excited to enter and we should see a launch very soon in Hyderabad. As a first Big Bang launch for us, then on Bangalore, we have launches lined up from Yeshwanthpur micro market to North Bangalore. We have a 66 acre prime parcel. We should start seeing launches of that within this year. And you know of course we have few more land parcel Bangalore depending on approvals. We should see that Pune again. Incredible launch calendar for Pune. We have something in Koregaon Park, one of the most prime micro markets of Pune. Then we have a few land parts in Hinjewadi, one of which will be quite a big. Launch in this quarter itself and forward with opportunities depending on how approvals progress in other micro markets or poorly like Buddha and the likes of it. We talked about the micro markets in these, you know, bigger areas, but what about the demand outlook in the Tier 2, Tier 3 cities? Are you looking at deepening your presence there as well? I mean, Dear 2 is a very, very promising market in India. The only thing is we are not looking clear to from a group housing perspective. We're looking at doing plotted developments, which are typically large townships where you have lots to buy products from Goodrich Properties. And yes, we are seeing extremely strong demand. We've launched a series of launches in Tier 2 cities and we continue to be very, very optimistic about it. Alright, let's talk about your expansion plans. When you talk about it, are you planning to expand to newer geographies? I think largely want to be focused upon all the large 4 core markets of India, which are, you know, NCR, Mumbai, Bangalore and Pune. We do have presence in Pune, in Calcutta. So we would add, you know, opportunistically good deals that we get to say there, but not too many. If so, 90% of our pipeline is going to be in these four cities. Having said that, we've been extremely focused on Hyderabad as a new entry city. We've going to take some baby steps. To begin with, we launched 2 projects. That and see how that goes and hopefully that is 1 market will deepen our presence. But our other than these cities, I don't see us entering into any of the city from a group housing perspective. On the plotted development side, like I mentioned sometime back, yes, we believe there is great opportunities and we've been seeing extremely strong demand for our products. So we would selectively evaluate deals and and handpick these opportunities into two, but nothing on the housing side beyond these cities, OK, being very selective and cautious there. Thanks so much Gaurav for making time and speaking with us. Today, in the meantime, taking stock of some of the buzzers.