Companies

Godrej Properties net profit up 9.2%

PTI Mumbai | Updated on January 17, 2018 Published on August 09, 2016

Godrej Properties today reported a 9.19 per cent increase in consolidated net profit at Rs 43.48 crore for the quarter ended June 30, 2016 on improved sales.

The company had posted a net profit of Rs 39.82 crore in the corresponding period last fiscal.

Total income during April-June period stood at Rs 332.81 crore against Rs 230.28 crore a year-ago, registering a growth of 44.52 per cent.

“After a good performance in FY2015-16, we have made a steady beginning in the first quarter of this fiscal. We expect to significantly ramp up sales in the months ahead,” the company Managing Director and CEO Pirojsha Godrej said.

April-June quarter witnessed a total booking value of Rs 387 crore and total booking volume of 5,92,715 sq ft compared with a total booking value of Rs 1,251 crore and total booking volume of 13,21,385 sq ft in Q1 2016.

While residential projects recorded a booking value of Rs 312 crore and booking volume of 549,720 sq ft, commercial projects recorded a booking value of Rs 75 crore and booking volume of 42,995 sq ft in Q1 of this fiscal.

During the quarter, the company delivered 1.94 million sq ft, which includes 1.28 million sq ft of commercial and 0.66 million sq ft of residential space, across three cities, including Mumbai, Ahmedabad and Bengaluru.

The company also added two new projects with 13 million sq ft of saleable area in the first quarter at Greater Noida, marking its foray into the market.

Godrej Properties is currently developing residential, commercial and township projects spread across around 128 million sq ft in 12 cities.

Published on August 09, 2016
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