INSUBCONTINENT EXCLUSIVE:
Godrej Properties, real estate development arm of Godrej Group, has reported a 9 per cent year-on-year rise in consolidated net profit at Rs
45 crore for the quarter ended December
Total income for the quarter increased 4 per cent to Rs 491 crore.
The quarter witnessed a 22 per cent drop in total booking value at Rs
in the real estate sector remains challenging but we continue to believe that the ongoing consolidation in the sector provides Godrej
Properties a tremendous opportunity to drive market share growth in residential real estate
Pirojsha Godrej, Executive Chairman, Godrej Properties.
The company added 4 new projects with saleable area of around 12.7 million sq ft to
its portfolio during the quarter
The developer has entered into a joint venture to develop a township project in Navi Mumbai with around 7.5 million sq ft saleable area
ventures including one each in Ambernath near Mumbai and Bagalur in Bengaluru
It has also made outright purchase of land in Thane that will offer around 1.1 million sq ft saleable area comprising primarily of
residential area of various configurations with retail spaces.