Godrej Properties'Q1 net profit at Rs 39.5 crore

MUMBAI: Realty developer Godrej Properties has reported 130% year-on-year rise in consolidated net profit at Rs 39.5 crore for the quarter ended June. Total income for the quarter rose 5% to Rs 244.3 crore, the company said in a release.

During the quarter, the company registered total booking Rs 606 crore on the back of total booking volume of 0.59 million sq ft.

“Godrej Properties has delivered strong year-on-year earnings and bookings growth despite adverse market conditions. We continue to expand our development portfolio and signed two new deals in our target markets of Bangalore and NCR this quarter. We hope to sustain the momentum for the rest of FY 2014,” said Pirojsha Godrej, MD & CEO of Godrej Properties.

On Friday, shares of Godrej Properties closed at Rs 514.75 on the Bombay Stock Exchange, down 0.9% over Thursday’s close.