Godrej Properties Q2 profit zooms to Rs 21 crore

MUMBAI: Godrej Properties, the real estate development arm of Godrej Group, has reported consolidated net profit of Rs 21 crore for the quarter ended September 30 against a profit of Rs 21 lakh a year ago. Total Income for the quarter rose 36% from a year ago to Rs 473 crore, the company said in a release.

The company added two new projects with 2.9 million sq ft of saleable area during the quarter.

Godrej Properties received bookings volume of 1.07 million sq ft with value of Rs 807 crore during the quarter as against booking volume of 1.56 million sq ft worth Rs 1,335 crore a year ago.


“The current environment gives us an outstanding opportunity to disproportionately scale our business development portfolio. We expect the pace of project additions to accelerate in the second half of FY19,” said Pirojsha Godrej, Executive Chairman, Godrej Properties.

With a number of launches, the company expects a strong second half of the financial year from a sales growth perspective.