New Delhi, Aug. 4 -- Godrej Properties Ltd (GPL), India's best-selling residential developer, started fiscal year 2027 (FY27) with the strongest sales performance among the country's top listed real estate firms, underscoring sustained demand for branded developers even as its reported earnings weakened because of accounting-driven revenue recognition.

Sales bookings rose 22% year-on-year to Rs.8,651 crore in the April-June quarter, (Q1FY27) marking the sixth consecutive quarter in which GPL recorded booking value of more than Rs.7,000 crore.

The strong pre-sales contrasted with weaker reported financials. Net profit fell 42% year-on-year to Rs.350 crore from Rs.600 crore a year earlier, while total income declined 16.9% to Rs.1,345.04 ...