Godrej Properties margins weak

Godrej Properties' December quarter num bers were disappointing, especially on the margin front. Despite a rise of 19% in the standalone sales, its net profit dropped by 22% due to weak margins.

The company's stock had gained sharply making a high of Rs 375 in October, due to strong sales in one of its Mumbai based commer cial projects. The same did not reflect on the profit ability front. The stock is down to Rs 300 now.