Godrej Properties Q2 Outcomes: Internet Revenue rises 22% YoY to Rs 67 crore

New Delhi: Realty agency Godrej Properties on Thursday reported a 22% rise in its consolidated internet revenue to Rs 66.80 crore and an over two-fold bounce in gross sales bookings to Rs 5,034 crore through the September quarter. Its internet revenue stood at Rs 54.96 crore within the year-ago interval.

Complete earnings rose to Rs 605.11 crore through the July-September interval of the 2023-24 monetary 12 months from Rs 369.20 crore within the corresponding interval of the earlier 12 months, in line with a regulatory submitting.

In an traders’ presentation, Godrej Properties knowledgeable that its gross sales bookings jumped over two-fold to Rs 5,034 crore within the second quarter of this fiscal over Rs 2,409 crore within the year-ago interval on increased volumes.

The corporate stated that is its “highest-ever quarterly sales-booking worth”.

It achieved Rs 2,016 crore in gross sales bookings from a single venture — Godrej Tropical Isle — in Noida.

Godrej Properties, which is an actual property arm of enterprise conglomerate Godrej Group, is without doubt one of the main actual property builders within the nation.

It has initiatives throughout numerous cities however focuses primarily on Mumbai Metropolitan Area, Delhi-NCR, Pune and Bengaluru. Pirojsha Godrej, Govt Chairperson of Godrej Properties, stated: “The residential actual property sector in India has been very sturdy and resilient over the previous two years and we consider the true property cycle will proceed to strengthen over the following few years.”

The numerous ranges of enterprise improvement the corporate has executed over the previous a number of years present it the chance to maximise the expansion alternatives obtainable available in the market, he stated.

“our topmost precedence is bringing these initiatives to market within the upcoming quarters,” Godrej stated.

“We noticed a powerful demand for our new launches this quarter and we’re delighted with the response to our venture, Godrej Tropical Isle in Noida which acquired bookings of greater than INR 2,000 crore inside the quarter making it GPL’s most profitable ever launch,” he highlighted.

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