1. Q3 FY26 Financial Results (Quarter Ended Dec 31, 2025) Godrej Properties reported its Q3 numbers earlier this month. The results show a classic "Real Estate Accounting Divergence"—where reported revenue fell, but actual business (bookings) hit record highs. Net Profit: ₹195 Crore, up 20% YoY (vs ₹163 Crore in Q3 FY25). Driver: Profit growth was aided by cost controls and other income, despite the revenue drop. Revenue (Reported): ₹498 Crore, down 49% YoY. Why? Real estate companies recognize revenue only when a project is completed and handed over (OC received). The drop is due to fewer project completions this quarter, not a lack of sales. Booking Value (The Real Metric): ₹8,421 Crore, a massive jump of 55% YoY. This is the highest-ever Q3 booking value in the company's history. MMR (Mumbai) Dominance: Mumbai region alone contributed ₹3,239 Crore, largely driven by the Godrej Trilogy launch in Worli.