Comments
Mumbai-based developer Godrej Properties reported a slide of nine per cent in net profit during the fourth quarter of FY’14 at Rs 48.3 crore against Rs 53.2 crore in the year ago period.
It added four projects in four cities with 9.6 million square feet of saleable area in Q4 of FY’14. The company’s sales for the period stood at Rs 386.22 crore against Rs 279.55 crore in Q4 of previous fiscal year.
The real estate arm of the Godrej Group also recommended a final dividend of Rs 2 per equity share of Rs 5 each.
For the entire 2013-14 fiscal, Godrej Properties net profit rose by 15 per cent to Rs. 159.43 crore from Rs. 138.43 crore in the previous fiscal.
Managing Director & CEO Godrej Properties Pirojsha Godrej said: “We sustained growth in a challenging environment with revenues, EBITDA and net profit growing by 20 per cent, 21 per cent and 15 per cent respectively in FY-2014. We have also delivered our highest ever quarterly sales with total booking value in Q4 FY14 increasing by 149 per cent Q-o-Q to Rs 1,066 crore.”
“We expect FY2015 to be an exciting year with major launches planned in all the top real estate markets of India,” he added.
Godrej Properties is developing housing, commercial and township projects in 12 cities with 100 million sq ft development potential, of which 20 million sq ft is under construction.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.