February 07, 2024: Godrej Properties (GPL) announced its financial results for the third quarter that ended December 31, 2023. Q3FY24 was GPL’s highest ever quarterly sales for second quarter in a row with a total booking value of Rs 5,720 crore with 4.34 million sqft of area sold.
The total income grew by 43% to Rs 524 crore in Q3FY24 as compared to Rs 366 crore in Q3FY23.The EBITDA was Rs 152 crore in Q3FY24 as compared to Rs 153 crore in Q3FY23. The net profit grew by 6% to Rs 62 crore in Q3FY24 as compared to Rs 59 crore in Q3FY23.
The company’s total income grew by 126% to Rs 2,410 crore in the 9M of FY24 as compared to Rs 1,068 crore in the 9M of FY23.
Pirojsha Godrej, executive chairperson, Godrej Properties Limited, said,”The residential real estate sector in India has been strong over the past three years and we believe the real estate cycle will continue to strengthen over the next few years. The significant levels of business development we have executed in previous years at favourable terms provides us the opportunity to exponentially scale our business in the years ahead. Our topmost priority is bringing these new projects to market in the upcoming quarters.
We saw strong demand continue for new launches this quarter and we are delighted with the response to our project, Godrej Aristocrat in Gurugram which received bookings of more than Rs 2,600 crore within the quarter making it GPL’s most successful ever launch. We will significantly exceed our bookings guidance of Rs 14,000 crore for FY24 and we are confident of also delivering our best ever year in terms of cash collections and project deliveries.”
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With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
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