Godrej Properties posts over two-fold jump in profit in Jan-Mar qtr

Realty firm Godrej Properties (GPL) today reported over two-fold jump in its consolidated net profit at Rs 141.51 crore for the January-March quarter of last fiscal, and highest-ever annual sales bookings at Rs 5,083 crore.

The company's net profit stood at Rs 62.59 crore in the year-ago period, it said in a filing to the BSE.

Total income also rose sharply by 84 per cent to Rs 848.56 crore from in the fourth quarter of the last fiscal from Rs 462.25 crore in the corresponding period of the previous year.

During the entire 2017-18 fiscal, the net profit increased by 14 per cent to Rs 234.96 crore from Rs 206.8 crore in the previous year.

Total income increased by 41 per cent to Rs 2,390.67 crore in the 2017-18 fiscal from Rs 1,701.38 crore in the previous year.

The company's Executive Chairman Pirojsha Godrej said, "We have completed the best ever year in GPL's history. The total value of bookings in FY18 stood at Rs 5,083 crore which represents a 152 per cent year-on-year increase."