Godrej Properties Q4 Net Profit up by 126%

Godrej Properties Q4 Net Profit up by 126%

 

CORPORATE HIGHLIGHTS:

Sales Highlights

Q4 FY18 witnessed total booking value of INR 1,054 crore and total booking volume of 1.47 million sq. ft. as compared to total booking value of INR 340crore and total booking volume of 0.59 million sq. ft. in Q4 FY17
FY18 witnessed total booking value of INR 5,083 crore and total booking volume of 6.26 million sq. ft. as compared to total booking value of INR 2,020 crore and total booking volume of 3.11 million sq. ft. in Q4 FY17
· Sales in FY18 higher than in any other financial year

Business Development

Added 4 new projects with 6 million sq. ft. of saleable area in Q4 FY18

Devanhalli, North Bangalore

Entered into a partnership to develop a 100 acres land parcel with saleable area of 2.15 million sq. ft. on NH-648 near Devanahalli Town in North Bangalore

Electronic City, South Bangalore

Entered into a partnership to develop a modern residential housing project of ~1.4 million sq. ft. with an option to further increase it to 2 million sq. ft. at Electronic City Phase – I in South Bangalore

Noida Expressway, NCR

Entered into development management agreement to develop a residential housing project with saleable area of 1.7 million sq. ft. in the Noida Expressway micro market

Sector 3, Gurgaon

Entered into a partnership to develop modern group housing project with saleable area of 0.75 million sq. ft.

Commenting on the performance of Q4 FY2018, Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said:

“We have completed the best ever year in GPL’s history. The total value of bookings in FY18 stood at INR 5,083 crore which represents a 152% year-on-year increase.For the first time in its history, GPL has delivered sales of more than INR 1,000 crore for four consecutive quarters.We have also generated INR 1,868 crore of net operating cash flow in FY 18, which has allowed us to reduce our debt by INR 653 crore while rapidly growing our company’s development portfolio.We look forward to building on this momentum in FY19.”

Financial Overview (Consolidated)

Q4 FY2018 performance overview compared with Q4 FY2017

  • Total Income increased by 79% to INR 849crore from INR 475 crore
  • EBITDAincreased by 100% to INR 221crore from INR 110 crore
  • Net profit increased by 126% to INR 142crore from INR 63 crore
  • EPS# amounted to INR 6.54 as compared to INR 2.90

FY2018 performance overview compared with FY2017

  • Total Income increased by 38% to INR 2,397crore from INR 1,733 crore
  • EBITDAincreased by 25% to INR 503 crore from INR 403 crore
  • Net profit increased by 14% to INR 235 crore from INR 207 crore
  • EPS amounted to INR 10.86 as compared to INR 9.60
    #not annualised