Godrej Properties Q3 net profit down
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.