Godrej Properties informed that its board has approved the issuance of non-convertible debentures (NCDs) aggregating to Rs 64.60 crore.
The realtor will issue 6,460 Unsecured, Redeemable, Rated, Listed, NCDs having face value of Rs. 1 lakh each, aggregating to Rs 64.60 crore.Godrej Properties is the real estate arm of the Godrej Group. It is subsidiary of Godrej Industries, which holds 58.48% of the company's equity shares as on 30 June 2024. The company currently operates in various cities and focuses on residential, commercial, and township development.
The company reported its highest ever consolidated net profit of Rs 520.05 crore in Q1 FY25, steeply higher than Rs 124.94 crore posted in Q1 FY24. Revenue from operations declined 21.05% year on year to Rs 739 crore in Q1 FY25 from Rs 936.09 crore recorded in the same period a year ago.
The scrip rose 0.23% to Rs 2,899.40 on Wednesday, 4 September 2024.
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