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Godrej Properties sells properties worth Rs 3,532 cr during April-December of FY20

Godrej Properties sells properties worth Rs 3,532 cr during April-December of FY20

Realty firm Godrej Properties sold properties worth Rs 3,532 crore during the April-December 2019 period, up 12 per cent as compared with a year-ago period. According to an investors’ presentation, the company’s sales bookings stood at Rs 3,155 crore during April-December 2018.

In terms of volume, Mumbai-based Godrej Properties sold nearly 52 lakh sq ft area, an increase of 3 per cent from the corresponding period of the previous year.

Out of the total sales bookings of Rs 3,532 crore achieved during the first nine months of this financial year, the housing segment contributed Rs 3,471 crore. Sales of commercial properties stood at Rs 61 crore.

As per the presentation, the company’s net debt stood at Rs 1,089 crore.

Godrej Properties has posted a 9 per cent increase in its consolidated net profit at Rs 45.46 crore for the quarter ended December as against Rs 41.63 crore a year ago.

Total income rose to Rs 517.47 crore in the third quarter of this financial year as compared to Rs 430.7 crore in the corresponding period of the previous year.

Earlier this month, Godrej Properties announced an acquisition of nearly 27 acre land parcel at Ashok Vihar in the national capital for Rs 1,359 crore to develop a luxury housing project.

Source

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Axiom Landbase

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