Godrej Properties Q3 net profit down 66 pc at Rs 26 cr

Realty firm Godrej Properties today reported 66 per cent decline in its net profit at Rs 25.94 crore for the quarter ended December.
Its net profit stood at Rs 77.24 crore in the year-ago period, the company said in a regulatory filing.
Total income increased by 22 per cent to Rs 674.31 crore in the third quarter of this fiscal from Rs 551.66 crore in the corresponding period of the previous year.
Godrej Properties Executive Chairman Pirojsha Godrej said: "We registered another strong operational quarter with sales of more than Rs 1,200 crore and net operating cashflow in excess of Rs 300 crore."

"Our booking value for the year has increased by 140 per cent and we look forward to building on this momentum in 2018," he added.
Godrej Properties has entered into joint ventures with local developers and land owners to develop three real estate projects in Bengaluru and Noida.
It is currently developing residential, commercial and township projects spread across approximately 150.12 million sq ft in 12 cities.