Godrej Properties Ltd Q1 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Abhishek Bhandari - Macquarie Research - Analyst : Congrats on very good presales. I have a couple of questions. The first, if I can start with the presales itself. You did mention in the opening comment that the 10:90 payment scheme was well accepted and appreciated by the buyer community. So do you think this plan will continue for the rest of the year? And if you could also probably give a percentage of the total presales, which came because of 10:90? The reason I'm asking this is that we seem to have broken the trend of positive operating cash flow, which was there for us for almost last 12 quarters or so. I understand part of it is because of construction slowdown. But this 10:90 also has a very big role to play in that.

Question: Abhishek Bhandari - Macquarie Research - Analyst : My follow-up on that, Pirojsha. Do you see any risk on these sales? Because some of your peers, especially in South India and all have been -- they did have a quarter when there was a big cancellation coming through citing very weak economic conditions and customers coming back to them to get cancellation request. So the question basically, I want to ask is, what kind of safeguard measures you have for these kind of presales force you to... Yes?

Question: Abhishek Bhandari - Macquarie Research - Analyst : Sure. And my last question is on your business development. In the last 2 years, you have added almost 73 million, 74 odd million square feet. This quarter you said it's soft. But could we expect a similar run rate in terms of at least 20 million to 25 million square feet kind of large projects [through JD and JV] getting incorporated? And is there any change in this strategy? Because if I remember last call, you've said that if there are certain projects where it makes more sense for us to buy the land, we will be more open to do it. Or would you still facing the current environment, it would makes sense diversify the risk and keep some risk with the landowner also. That will be my last question.