Godrej Properties Q1 net profit at Rs. 23.37 crore

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For the quarter ended June, Godrej Properties reported Q1 net profit at Rs. 23.37 crore, decline by 46%.

The total income surged by 3% to Rs. 345 crore as against Rs.335 crores in the earlier quarter.

“Q1 FY18 total sales was at Rs 1,474 crore, which was our highest-ever residential sales in a quarter. We also added four new projects to our portfolio and had one of our best-ever quarters in terms of operating cash flow,” said Pirojsha Godrej, Executive Chairman, Godrej Properties.

The Q1 FY18 witnessed total booking value of Rs. 1,474 crore and total booking volume
of 1,799,678 sq. ft.

The company added 4 new projects with 4.9 mn sq. ft. of saleable area in Q1 FY18.

The company has entered into a development management agreement in Bangalore to develop a premium residential group housing project with a saleable area of 0.6 million sq. ft.

It has also acquired a land parcel in Gurgaon for developing a high-end residential housing project with a saleable area of ~1.5 million sq. ft.