Godrej Properties Q3 net profit rises 26% to Rs 47.24 crore

Its net profit stood at Rs 37.36 crore in the year ago period.

New Delhi: Realty firm Godrej Properties Ltd on Tuesday reported 26 percent increase in consolidated net profit at Rs 47.24 crore for the quarter ended December 31 on the back of higher sales.

Its net profit stood at Rs 37.36 crore in the year ago period, the Mumbai-based firm said in a filing to the BSE.

Income from operations jumped more than two-fold to Rs 519.30 crore during the third quarter of this fiscal from Rs 241.95 crore in the corresponding period of the previous year.

Total income increased to Rs 538.64 crore for the quarter ended December 31, 2014 from Rs 253.92 crore in the year-ago period.

During October-December quarter, Godrej Properties achieved 37 percent growth in volume and 28 percent growth in value of sales bookings.

"Q3 FY 2015 witnessed total booking value of Rs 548 crore and total booking volume of 7,01,729 sq ft as compared to total booking value of Rs 428 crore and total booking volume of 5.13,641 sq ft in Q3 FY 2014," the company said in a statement.

Commenting on the financial performance, the company's MD & CEO Pirojsha Godrej said: "In the first nine months of the financial year, we have delivered 48 percent growth in total income, 26 percent growth in net profit and 97 percent increase in the volume of sales bookings."

He expressed hope that the company would maintain the sales and execution momentum.

Godrej Properties is currently developing residential, commercial and township projects spread across 9.3 million sq meters (104 million sq ft) in 12 cities.

By continuing to use the site, you agree to the use of cookies. You can find out more by clicking this link

Close