Godrej Properties jumps after robust sales

Godrej Properties surged 9.77% to Rs 892.75 at 11:39 IST on BSE after the company said it has sold over 2,900 homes with a booking value in excess of Rs 2100 crore in Q4 FY19.

The announcement was made after market hours yesterday, 1 April 2019.

Meanwhile, the S&P BSE Sensex was up 112.12 points, or 0.29% to 38,983.99

On the BSE, 1.73 lakh shares were traded in the counter so far, compared with average daily volumes of 57,000 shares in the past two weeks. The stock had hit a high of Rs 894.25 and hit a low of Rs 847.65 so far during the day.

Godrej Properties announced that it has achieved its highest ever bookings numbers in Q4 FY19. The company sold over 2,900 homes with a total area of approximately 3.75 million sq. ft. and a booking value in excess of Rs 2100 crore during the quarter. This record performance was achieved through the launch of four new projects combined with very strong sales from existing inventory.

Godrej Properties reported consolidated net profit of Rs 41.63 crore in Q3 December 2018 as compared to net loss of Rs 54.75 crore in Q3 December 2017. Total income rose 53.37% to Rs 472.81 crore in Q3 December 2018 over Q3 December 2017.

Godrej Properties is a real estate developer.

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