Latest News | Godrej Properties' Q2 Sales Bookings Down 26 Pc at Rs 1,074cr
Get latest articles and stories on Latest News at LatestLY. Godrej Properties' sales bookings fell 26 per cent to Rs 1,074 crore in the September quarter but grew 11 per cent to Rs 2,605 crore in the first six months of the current financial year.
New Delhi, Nov 4 (PTI) Godrej Properties' sales bookings fell 26 per cent to Rs 1,074 crore in the September quarter but grew 11 per cent to Rs 2,605 crore in the first six months of the current financial year.
According to an investors' presentation, total sales bookings in value terms fell to Rs 1,074 crore in the second quarter of the fiscal from Rs 1,446 crore in the year-ago period.
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During April-September period of the current fiscal, sales booking rose to Rs 2,605 crore from Rs 2,343 crore in the corresponding period of the previous year.
Residential segment contributed sales worth Rs 2,600 crore while commercial projects accounted for Rs 5 crore.
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Mumbai-based Godrej Properties is real estate arm of the business conglomerate Godrej Group.
On Tuesday, the company had reported a 78 per cent fall in its consolidated net profit at Rs 7.10 crore for the quarter ended September.
Its net profit stood at Rs 31.57 crore in the year-ago period.
Total income for the second quarter of this fiscal also fell to Rs 250.23 crore from Rs 395.11 crore in the corresponding period of the previous year.
"The real estate sector continues to be impacted by the pandemic but we believe this provides Godrej Properties with a tremendous opportunity to drive market share growth in residential real estate,"Godrej Properties Executive Chairman Pirojsha Godrej had said.
He said the company's planned launches in the second quarter were postponed due to delays in regulatory approval.
"With a robust launch pipeline in the second half of the financial year, we expect strong sales momentum during this period," Godrej had said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)