Godrej Properties Q2 net profit up by 66% at INR 34.19 crore

Godrej Properties Q2 report

Profit after tax (PAT) for the quarter stood at INR 34.19 crore as against INR 20.57 crore it recorded in the corresponding quarter last year.

Highlights:

• Total booking value YoY growth of 79% to INR 1,446 crore for Q2 FY20
• Net Profit for Q2FY20 grew YoY by 50% to INR 31 crore

Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the second quarterended September 30, 2019.

Corporate Highlights:

Sales Highlights

• Q2 FY20 witnessed a total booking value of INR 1,446 crore and total booking volume of 2.26 million sq. ft. as compared to total booking value of INR 807 crore and total booking volume of 1.07 million sq. ft. in Q2 FY19.
• H1 FY20 witnessed a total booking value of INR 2,343 crore and total booking volume of 3.61 million sq. ft. as compared to total booking value of INR 1,627 crore and total booking volume of 2.24 million sq. ft. in H1 FY19.

Commenting on the performance of Q2 FY2020, Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said “The overall environment in the real estate sector remains challenging. This provides Godrej Properties with tremendous opportunity to drive market share growth in residential real estate. We expect strong momentum in both portfolio project additions and new project launches in H2 FY20.”

Financial Overview (Consolidated)

Q2 FY20 performance overview compared with Q2 FY19

• Total Income decreased by 22% to INR 370 crore
• EBITDA increased by 96% to INR 135 crore
• Net profit increased by 50% to INR 31 crore
• EPS# amounted to INR1.22 as compared to INR 0.90

#not annualised