Godrej Properties Net Profit for Q3 FY20 increased by 9%
BY
Realty Plus
Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the third quarter ended December 31, 2019.
CORPORATE HIGHLIGHTS:
Sales Highlights
- Q3 FY20 witnessed a total booking value of INR 1,189 crore and total booking volume of 1.58 million sq. ft. as compared to total booking value of INR 1,528 crore and total booking volume of 2.80 million sq. ft. in Q3 FY19.
- 9M FY20 witnessed a total booking value of INR 3,532 crore and total booking volume of 5.19 million sq. ft. as compared to total booking value of INR 3,155 crore and total booking volume of 5.04 million sq. ft. in 9M FY19.
Business Development
Added 4 new projects with saleable area of ~12.7 million sq. ft. in Q3 FY20
Navi Mumbai, MMR
- Entered into a joint venture to develop a Township Project in Navi Mumbai
- The project will be a mixed use development and will offer approximately 7.5 million sq. ft. of saleable area
- GPL’s economic interest is 55% of profit
Ambernath, MMR
- Entered into a joint venture to develop a land parcel of approximately 6.4 acres in Ambernath
- The project will be developed as a group housing project with approximately 1.1 million sq. ft. of saleable area
- GPL’s economic interest is 47% of profit
Thane, MMR
- The project is an outright purchase of land in Thane and will offer approximately 1.1 million sq. ft. of saleable area comprising primarily of residential area of various configurations with retail spaces
- It is a 100% owned project
Bagalur, Bangalore
- The joint venture project is located on the main State Highway 104 and will be developed as a modern affordable housing project providing a saleable area of approximately 3.0 million sq. ft.
- GPL’s economic interest is 5.5% of revenue and 49% of profit
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