Realty firm Godrej Properties said its board has given approval to raise up to Rs 1,000 crore through listed or unlisted, secured or unsecured Non-convertible Debentures (NCDs) and other instruments on private placement basis.
In a BSE filing, the firm stated, “The Board also authorised a Committee of Directors to determine and approve the quantum, timing and terms and conditions of the NCDs, subordinate debentures, bonds and/or other debt securities.”
The board has approved the company to opt for one or more tranches but the amount should not exceed Rs 1,000 crore.
On Monday, Godrej Properties reported a 35 per cent fall in its consolidated net profit at Rs 101.08 crore for the March quarter of FY 2020 due to higher expenditure. Its net profit stood at Rs 156.66 crore in the year-ago period. Total income, however, rose to Rs 1,288.17 crore in the fourth quarter of the last fiscal year from Rs 1,203.21 crore in the previous year