Godrej Properties Q2FY24 result: Net profit at Rs 72 cr; revenue up 107%

Godrej Properties Limited reported a jump of 8.36 per cent in its consolidated net profit in the quarter ended September 30 to Rs 72.64 crore, as compared to Rs 67.03 crore in the same quarter last year. As compared to Rs 133.69 crore in Q1FY24, the net profit was down 45.66 per cent.

The revenue from operations for Q2FY24 came in at Rs 343 crore, compared to Rs 165.09 crore year-on-year (y-o-y), registering a jump of 107.76 per cent. On a quarter-on-quarter (q-o-q) basis, the revenue for operations was down 63.35 per cent. It stood at Rs 936.09 crore in Q1FY24.

 

The total income for Q2FY24 came in at Rs 605.11 crore, compared to Rs 369.20 crore y-o-y, registering a rise of 63.89 per cent. On a q-o-q basis, the total income was down 52.20 per cent. It was Rs 1265.98 crore in Q1FY24.

At 1:56 pm, the Godrej Properties Ltd stock was trading at Rs 1,701.50.

Last month, the Municipal Corporation of Delhi (MCD) has imposed a penalty of Rs 5 lakh on a subsidiary of Godrej Properties for not taking environment safety precautions in construction works at its project site in New Delhi.

In a regulatory filing, Godrej Properties informed that its subsidiary Godrej Vestamark LLP on October 16 received an order in this regard under the Delhi Municipal Corporation Act 1957.