Godrej Properties Ltd has reported 65 per cent fall in consolidated net profit to Rs 17.92 crore for the fourth quarter ended March 31, 2016 against Rs 51.44 crore in the same period a year-ago.
Income from operations also fell 26 per cent to Rs 515.59 crore in the fourth quarter of 2015-16 fiscal from Rs 697.98 crore in the January-March period of the previous fiscal.
For the year ending March 31, 2016, the company’s net profit was up 21 per cent at Rs 231.10 crore against 190.9 crore in the previous financial year.
Income from operations increased by 43 per cent to Rs 2,633.96 crore during last fiscal against Rs 1,843.09 crore in the 2014-15 fiscal.
The company said it has added two new projects with 5 million sq. ft. of saleable area in Q4 FY'16.
Godrej also said it had clocked highest-ever sales in a financial year - booking value of Rs 5,038 crore.
Godrej, MD and CEO, Godrej Properties Ltd, said, “We registered our highest-ever bookings, revenues, EBITDA, net profit, cash flows and deliveries despite a challenging year for the real estate sector. We look forward to building on this momentum in the year ahead.”