Godrej Properties Reports Best-Ever Quarter for Sales
Godrej Properties Limited released its financial results for the fourth quarter ended March 31, 2022. The company launched 3 new projects (Sonipat, Bannerghatta Road and Pimpri-Chinchwad) with a saleable area of ~6.1 million sq. ft. in Q4 FY22. GPL’s best-ever quarter for sales - booking value stood at INR 3,248 crore in Q4 FY22, up 23% YoY and 111% QoQ. Its booking value grew by 17% to INR 7,861 crore in FY22. In Q4 FY22 and FY22, the residential collections reached INR 2,678 crore and INR 6,907 crore, respectively, and the net profit reached INR 260 crore and INR 352 crore, respectively. Commenting on the performance of Q4 FY2022, Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said “The real estate sector has strengthened during FY22 and we expect strong growth for the sector over the next few years. We are pleased to close the financial year with our best-ever annual sales, cash collections, and earnings. With a robust launch pipeline, strong balance sheet and sectoral tailwinds, we look forward to building on this momentum in FY23.”
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