Companies

Godrej Properties Q3 net jumps 24%

Manisha Jha New Delhi | Updated on March 12, 2018

Mumbai-based Godrej Properties has posted a 24 per cent jump in net profit at Rs 35.47 crore for the third quarter ended December 31, 2012 on the back of new launches.

The net profit stood at Rs 28.61 crore in the year-ago period.

Net sales during the quarter under review rose to Rs 241.10 crore from Rs 143 crore in the corresponding quarter last fiscal.

Commenting on the financial performance, Managing Director & CEO, Godrej Properties, Pirojsha Godrej, said: “Godrej Properties continues to see strong momentum in launches, bookings and new business. We have also sustained new sales momentum by delivering four successful launches across the key markets of Mumbai, NCR and Bangalore during the third quarter of FY2013.Our presence in Mumbai redevelopment space was further strengthened with the addition of Curry Road project in this quarter.’’

“We are strategically developing our presence in crucial markets and adding value accretive transactions to our portfolio, which clubbed with our brand equity, differentiated business model and strong execution capabilities, will drive our future growth,’’ he added.

The company’s scrip closed at Rs 629.10, up 1 per cent from its previous close on the BSE on Wednesday.

Published on January 30, 2013

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