Godrej Properties' Profit Skyrockets: A Real Estate Triumph

Godrej Properties posted a five-fold rise in net profit to Rs 335.21 crore for the September quarter, driven by increased income and robust bookings. The company reported strong cash flow growth and is set to exceed its bookings target with a focus on expanding market share and margins.

Godrej Properties has demonstrated significant financial prowess, reporting a staggering five-fold increase in consolidated net profit to Rs 335.21 crore for the September quarter. This dramatic upswing, compared to Rs 66.80 crore a year ago, is attributed to a surge in total income, which more than doubled to Rs 1,346.54 crore, as per the latest regulatory filing.

Pirojsha Godrej, Executive Chairperson of Godrej Properties Ltd, credited the company's impressive results to record-breaking bookings and collections. He highlighted a 125% growth in operating cash flow, emphasizing the company's strong momentum with a robust launch pipeline and resilient demand in the market.

Looking ahead, the company, a leading player in India's real estate sector, aims to substantially surpass its Rs 27,000 crore bookings target for FY25 while increasing its market share and margins. Pirojsha Godrej pointed out the sector's promising outlook, projecting continued growth in residential real estate demand.

(With inputs from agencies.)