Leading real estate entity, Godrej Properties, has generated a consolidated net profit of Rs. 39 crores during the 3rd quarter ended in December ─ marking a 171% jump YOY. The total income, which hiked 30% from the previous year, is Rs. 399 crores. Want to get an insight into this company? Keep scrolling!
How Is the Business Going for Godrej Properties?
During Q3, Godrej Properties’ operating profit is worth around Rs. 115 crores, growing by Rs. 34 crores from the same time of the preceding year. The net sales in Q3 FY 22 surged 63.5% from Q3 FY 21 and amounted to nearly Rs. 278.76 crores. Similarly, consolidated profit before tax rose from Rs. 31. 39 crores to Rs. 67.94 crores, which is a 116.4% rise.
The 3rd quarter of 2022 flourished with a booking volume of around 2.22 million sq. ft. and a booking value worth around Rs. 1,541 crores. Hence, it improved from Q3 FY 21, witnessing a booking volume of about 2.40 million sq. ft. and a booking value worth around Rs. 1,488.
This entity’s shares fell 4.96% on the Bombay Stock Exchange, amounting to nearly Rs. 1,695.10 apiece.
Did Godrej Properties Plan New Projects in Q3?
The company included three latest projects in Yerwada locality (Pune), Connaught Place (Delhi) and Sarjapur (Bangalore). The saleable area is about 2.4 million sq. ft. In MMR (Mumbai Metropolitan Region), it has established around 0.08 million sq. ft. in quarter 3. It is now focusing on expanding its portfolio with new projects.
What Is the Major Purpose of Godrej Properties?
Godrej Properties Ltd, a part of Godrej Group, is a major realty developer in India. It primarily develops IT, retail, commercial and residential projects across Hyderabad, Kolkata, Bangalore, Pune and Mumbai. The business delivers technology parks, IT parks, business centres, office spaces, commercial complexes and residential townships.
Despite the third wave of COVID-19, the real estate and construction segment has experienced continuous improvement. Some of the launches of Godrej Properties have been delayed in the 3rd quarter, but they are gearing up stronger for the next quarter.
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Frequently Asked Questions
What is Planet Godrej?
Planet Godrej is one of the praiseworthy projects of Godrej Properties. It is a skyscraper of Mumbai and was recognised as the tallest building in India in 2008.
What is Godrej BKC?
Godrej Properties launched Godrej BKC, a commercial office building in Bandra. It is a LEED Platinum rated project, where LEED stands for Leadership in Energy and Environmental Design. It aims to promote environmental sustainability.
Who is Godrej Properties’ Chairman Emeritus?
Mr. Adi Godrej is the Chairman Emeritus of Godrej Properties. The Government of India has honoured him with Padma Bhushan Award.
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