Godrej Properties surges 10%, erases Budget day losses on strong Q3 results

Shares of Godrej Properties zoomed 10 per cent to Rs 1,084 on the BSE on Monday after the company’s consolidated profit before tax (PBT) in December quarter (Q3FY20) more-than-doubled at Rs 88 crore, on the back of strong operational performance. The real estate developer had reported PBT of Rs 36 crore in the year-ago quarter. The stock erased its entire 8 per cent loss recorded on the Budget day.

The management said the ongoing consolidation in the sector provides Godrej Properties a tremendous opportunity to drive market share growth in residential real estate. It expects to end the year