Godrej Properties Q3 PAT grows 171% YoY to Rs 39 cr

Godrej Properties' consolidated net profit soared 171.4% to Rs 38.95 crore on a 63.5% surge in net sales to Rs 278.76 crore in Q3 FY22 over Q3 FY21.

Consolidated profit before tax jumped 116.4% to Rs 67.94 crore in Q3 FY22 as against Rs 31.39 crore in Q3 FY21. The Q3 FY22 witnessed a total booking value of Rs 1,541 crore and total booking volume of 2.22 million sq. ft. as compared to total booking value of Rs 1,488 and total booking volume of 2.40 million sq. ft. in Q3 FY21.

Consolidated EBITDA grew 42% to Rs 115 crore in Q3 FY22 as compared to Rs 81 crore in Q3 FY21. Godrej Properties added three new projects with saleable area of 2.4 million sq. ft. in Q3 FY22.

Commenting on the Q3 FY2022 performance, Pirojsha Godrej, the executive chairman of Godrej Properties, said, "It is encouraging to see that the real estate sector in India has continued to strengthen despite the challenges of the third wave. Our own sales were muted in the third quarter due to several planned launches seeing minor delays, but we believe the current quarter will be our best ever for residential sales. We are also focused on adding several exciting new projects to our portfolio, which will set us up well for a very strong FY23."

Shares of Godrej Properties dropped 4.96% to Rs 1,695.10 on BSE. Godrej Properties is engaged in construction and real estate development.

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