Go­drej Prop­er­ties Q3 net profit down

HT Estates - - FRONT PAGE - Bidya Sa­pam bidya.s@livemint.com

MUM­BAI: Real es­tate firm Go­drej Prop­er­ties Ltd last week said its net profit dropped 66.4% to Rs25.94 crore in the quar­ter ended 31 De­cem­ber, pri­mar­ily due to a rise in ex­penses dur­ing thep­e­riod. The­com­pa­ny­posteda 22% in­crease in to­tal in­come to Rs674.31 crore year on year.

To­tal ex­penses in the third quar­ter rose 42.5% to Rs622.79 crore from Rs436.76 crore a year ear­lier, the com­pany said in afil­ing with the BSE. The Go­drej group firm said book­ing value dur­ing the quar­ter stood at Rs1,220 crore com­pared­with the to­tal book­ing­val­ue­ofRs693crore recorded in the third quar­ter of the last fi­nan­cial year. “Wereg­is­tered an­oth­er­stron­g­op­er­a­tional quar­ter with sales of more than Rs1,200 crore and net op­er­at­ing cash flow in ex­cess of Rs300 crore,” Piro­jsha Go­drej, ex­ec­u­tive chair­man of Go­drej Prop­er­ties Ltd said in a state­ment.

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