Godrej Properties sees 75.48% growth in net profit by March 31, 2023, with its net consolidated total income reaching Rs.1,839 crore in Q4FY23, up by 20.77% from the previous year. The company's earnings per share has also seen a significant increase, reflecting its strong financial performance. In addition to its financial success, the company has added 18 new residential projects in key cities, showcasing its focus on sustainable and innovative development.
Godrej properties, one of the most trusted developers in India, has recorded a growth in the net profit by 75 % by March 31, 2023. The company’s net consolidated total income was Rs.1,839 crore in Q4FY23, a growth of 20.77 percent from Rs.1,522.57 crore in the similar quarter year last.
The earnings per share was Rs.1482 up from Rs.9.37 in the same quarter of the previous year. The company showed a growth in the net profit in 2023. Its profit after tax (PAT) was Rs.453 crore against Rs.258 crores in the previous year.
The company has allotted 33,377 equity shares under the Employee Stock Grant Scheme. The company’s net worth was Rs.9,264.20 crore, net debt was Rs.3,649 crore, debt equity ratio was 0.69 and total debts to total assets was 0.28. Its net profit margin was 23.52%. during the financial year.
The company added 18 new residential projects in Bengaluru, Chennai, Nagpur and Pune with a saleable area of 29 million sq ft with an estimated booking value of Rs. 32,000 crores. Over 1.5 lakh sq ft area was leased at a rent of Rs.165 per sq ft. The total booking value grew by 56% to rs.12,232 crore.
Godrej Properties was established in 1990 as a part of the Godrej Group. The company focuses on developing residential, commercial, and township projects across various cities in India. With a strong emphasis on sustainability and innovation, Godrej Properties has received several awards and recognitions for its projects.
Godrej Properties has a strong presence in several cities including Mumbai, Pune, Bangalore, Delhi-NCR, Hyderabad, Kolkata, and Chennai. Some of its iconic projects include Godrej BKC in Mumbai, The Trees in Mumbai, Godrej Garden City in Ahmedabad, and many more.
In conclusion, Godrej Properties has delivered a strong financial performance in Q4FY23, with a significant growth in net profit and total income. The company's expansion strategy has been successful, with the addition of 18 new residential projects in key cities, leading to an increase in booking value. The company’s financial performance reflects its strong position in the Indian real estate market and its potential for continued growth in the future.
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