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Updated on: Tuesday, November 02, 2021, 01:18 PM IST

Godrej Properties Q2 results: Profit jumps 5-fold to Rs 35.72 cr

Total income rose to Rs 334.22 crore in the second quarter of this fiscal from Rs 250.23 crore in the corresponding period of the previous year / Representational Image |

Total income rose to Rs 334.22 crore in the second quarter of this fiscal from Rs 250.23 crore in the corresponding period of the previous year / Representational Image |

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Godrej Properties on Tuesday reported a five-fold jump in its consolidated net profit at Rs 35.72 crore for the quarter ended September on higher revenue. Its net profit stood at Rs 7.10 crore in the year-ago period.

Total income rose to Rs 334.22 crore in the second quarter of this fiscal from Rs 250.23 crore in the corresponding period of the previous year, according to a regulatory filing. Its sales bookings jumped more than two times to Rs 2,574 crore during the second quarter of the current fiscal from Rs 1,074 crore in the year-ago period. Pirojsha Godrej, Executive Chairman, Godrej Properties Ltd, said, "After a weak first quarter, the real estate sector has rebounded strongly in the second quarter."

The company recorded one of its best-ever quarters for bookings with a strong response to new launches across India, he said. ''We have a robust launch pipeline in the second half of the financial year and expect to build on the current momentum,'' Godrej said. Mumbai-based Godrej Properties is part of the business conglomerate Godrej Group. It is one of the leading real estate developers in the country with a strong presence in Delhi-NCR, Mumbai Metropolitan Region, Bengaluru, and Pune markets.

(With inputs from PTI)

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Published on: Tuesday, November 02, 2021, 01:18 PM IST
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