Godrej Properties Posts a Record-Breaking Fiscal Year
Godrej Properties reported a 70% increase in net profit for the March quarter, fueled by strong housing demand. The firm's income and sales bookings rose significantly, reinforcing its position as a leading real estate developer in India. It plans to expand through land acquisitions for future projects.
In a remarkable fiscal year, Godrej Properties reported a 70% surge in its consolidated net profit, climbing to Rs 649.88 crore for the quarter ending March. This growth is attributed to a robust housing demand, as stated in its recent regulatory filing.
The real estate giant witnessed its total income rise sharply to Rs 3,806.65 crore during this period, compared to Rs 2,681.06 crore in the previous year. For the full fiscal year, net profit soared to Rs 1,850.20 crore, supported by a total income of Rs 8,410.88 crore.
Executive Chairperson Pirojsha Godrej commented on the record-breaking achievements, highlighting the company's strategic land acquisitions worth over Rs 42,000 crore. With an impressive launch pipeline and a record operating cash flow of Rs 7,830 crore, the firm remains poised for continued growth, despite potential global disruptions.
(With inputs from agencies.)
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