New Delhi: Godrej Properties on Tuesday clocked a consolidated net profit of Rs 260 crore for the fourth quarter (Q4) ended in March, the PTI reported.
Despite the second wave of the Covid-19, the realty firm’s sales bookings grew by 23 per cent to Rs 3,248 crore on improved housing demand.
Godrej Properties, the real estate arm of the business conglomerate Godrej Group, is one of the leading developers in the country. It had logged a net loss of Rs 191.57 crore in the year-ago period.
According to a regulatory filing, the Mumbai-based company’s total income rose to Rs 1,522 crore during the January-March quarter of the last financial year from Rs 576 crore in the year-ago period.
Godrej Properties posted a net profit of Rs 352 crore during FY21-22, as against a net loss of Rs 189 crore in the previous year, while its total income surged to Rs 2,585.69 crore in the last fiscal from Rs 1,333.09 crore in FY20-21.
According to the report, the company said that its sales bookings rose 23 per cent to Rs 3,248 crore. The sales bookings for the entire last financial year rose 17 per cent to Rs 7,861 crore, of which Rs 7,781 crore came from the residential properties.
The firm sold 9,121 homes, with a total area of 10.8 million square feet in FY22.
Pirojsha Godrej, executive chairman, Godrej Properties, said: "The real estate sector has strengthened during FY22 and we expect strong growth for the sector over the next few years. We are pleased to close the financial year with our best ever annual sales, cash collections, and earnings. With a robust launch pipeline, strong balance sheet and sectoral tailwinds, we look forward to building on this momentum in FY23."
During FY21-22, it added 6 new residential projects, with around 9.33 million square feet of saleable area.
The company delivered around 6.4 million square feet across 5 cities in FY22. Customers’ collection was also record at Rs 6,907 crore in FY22.