Godrej Properties Q4 net loss stands at Rs 192 cr

The real estate major's consolidated net loss stood at Rs 191.62 crore in Q4 FY21 as against net profit of Rs 102.39 crore in Q4 FY20.

On a consolidated basis, net sales slumped 62.80% to Rs 432.64 crore in Q4 FY21 compared with Rs 1,163.05 crore in Q4 FY20. EBITDA stood at Rs (79) crore in Q4 FY21 compared with Rs 253 crore in Q4 FY20.

The Q4 FY21 witnessed total booking value growth of 10% Y-o-Y (year-on-year) and 77% Q-o-Q (quarter-on-quarter) to Rs 2,632 crore and total booking volume growth of 16% Y-o-Y to 4.18 million sq. ft. The company launched seven new projects across four cities in Q4 FY21.

Godrej Properties recorded its highest ever quarterly collection of Rs 2,041 crore leading to net operating cash flow of Rs 785 crore in Q4 FY21. The company delivered about 2.3 million square feet in three projects in Q4 FY21.

Commenting on the Q4 FY2021 performance, Pirojsha Godrej, the executive chairman of Godrej Properties, said: "Our primary focus at the moment is to ensure the safety and wellbeing of our workforce and to do anything we can to assist the country's response to this crisis. While the real estate sector like all parts of the economy has been impacted by the second wave, we expect the sector will continue the robust recovery it was witnessing once this crisis abates. In Q4, we are pleased to have delivered our best ever quarterly performance in terms of the value of real estate sold and cash collections generated from our customers. We also successfully concluded the largest ever QIP by a real estate company in India raising Rs 3,750 crore. Given our robust launch pipeline, strong balance sheet, and interesting new project acquisition opportunities, we expect a strong FY22."

Godrej Properties is engaged in construction and real estate development.

Shares of Godrej Properties skid 3.87% to Rs 1,314.35 on BSE. The stock hovered in the range of Rs 1,300.50 to Rs 1,360 during the day.

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