Godrej Properties September Quarter Net Profit Records 400% Year-On-Year Jump

Godrej Properties' consolidated net profit for September quarter of current fiscal stood at Rs 35.7 crore, up by a huge 400 per cent from Rs 7.10 crore profit recorded by it in the corresponding period of last year.

The realty firm's operations grew by 44.4 per cent to Rs 129.32 crore in July-September quarter of 2021-22 over the corresponding period of last year. Total Income stood at Rs 290 crore in the September quarter of current fiscal, rising 21.8 per cent year on year compared to Rs 238 crore in the corresponding period of last year.

EBITDA for September quarter stood at Rs 105 crore, which was 36 per cent higher than Rs 77 crore recorded in the corresponding period of last year. 

On the operational front, total booking value in period under scrutiny stood at Rs 2,574 crore as compared to Rs 1,074 crore in the corresponding period of last year. Total booking volume stood at 3.61 million square feet in second quarter of current fiscal as compared to 1.73 million square feet in corresponding period of last year.

Reacting on the company's performance, Pirojsha Godrej, executive chairman of Godrej Properties said, "After a weak first quarter, the real estate sector has rebounded strongly in the second quarter. Godrej Properties recorded one of its best ever quarters for bookings with a strong response to new launches across India. We have a robust launch pipeline in the second half of the financial year and expect to build on the current momentum."