Godrej Properties Q2 Profit Jumps 127.81 Percent

04 November,Mumbai

Real estate major, Godrej Properties Ltd today reported a 127.81 percent jump in its net profit to Rs.106.16 crore for quarter ended September 30, 2105 as compared with Rs 46.60 crore posted in the same period last fiscal year due robust sales recorded during the period.

Total income during the quarter increases around 5 folds to stoodat Rs.1,481.40 crore as against Rs.306.80 crore posted in the same period last fiscal year. Company said it has recorded the highest ever sales in a single quarter, posting a booking value of around Rs.1,957 crore.

During the quarter, it signed the countrys largest-ever real estate commercial transaction by selling 435,000 sq.ft at upcoming Godrej Bandra-Kurla project for Rs.1,479 crore. The commercial spacewas bought by pharmaceutical firm Abbott India Ltd.

Of the total booking value, residential projects recorded a booking value of Rs.478 crore with a booking volume of 821,014 sq. ft during the second quarter this fiscal year.”We registered our highest ever quarterly sales, revenues, Ebitda (earnings before interest, tax, depreciation and amortization), net profit and cash flows.

We look forward to building on this momentumin the year ahead,” said Pirojsha Godrej, managing director and chief executive officer (CEO) of Godrej Properties.