Godrej Properties reports 89% surge in net profit for Q2FY18

The real estate development arm of the Godrej Group, Godrej Properties has reported 89 per cent year-on-year rise in consolidated net profit at Rs. 44 crore for the quarter ended September. Total income for the quarter also increased by 45 per cent to Rs. 532 crore, the company said in its earnings release. During the quarter, the company also registered total booking value of Rs. 1,335 crore as compared to total booking value of Rs. 600 crore in the second quarter of FY2017. Pirojsha Godrej, Executive Chairman, Godrej Properties, said, “We registered another strong operational quarter with both sales and business development at record levels. We hope to further build on this momentum in the second half of the year.” The company added 4 new projects with saleable area of 12.6 million sq. ft. in Q2 FY18. Godrej Properties is currently developing residential, commercial and township projects spread across approximately 147 million sft in 12 cities.