Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Godrej Properties' Sales Bookings Up 44% to Rs 2,343 Crore in April-September FY'20

Godrej Properties, which is the real estate arm of business conglomerate Godrej group, launched nine new projects/phases in the first half of 2019-20.

PTI

Updated:November 12, 2019, 1:24 PM IST
facebookTwitter Pocket whatsapp
Godrej Properties' Sales Bookings Up 44% to Rs 2,343 Crore in April-September FY'20
Godrej Properties Logo

New Delhi: Godrej Properties' sales bookings rose 44 per cent to Rs 2,343 crore during the first half of the ongoing financial year on higher volumes despite slowdown in the housing segment.

The company had sold properties worth Rs 1,627 crore in the year-ago period.

"79 per cent year-on-year growth in value of sales booking for Q2 FY'20 to Rs 1,446 crore and 44 per cent year-on-year growth in value of sales booking for H1 FY2'0 to Rs 2,343 crore," Godrej Properties said in an investors presentation.

Out of the total sales bookings, Rs 2,329 crore pertained to housing segment and the remaining Rs 14 crore to commercial space.

In volume terms, sales bookings rose 61 per cent to 3.6 million sq ft in April-September 2019 from 2.23 million sq ft in the corresponding period of the previous year.

Godrej Properties, which is the real estate arm of business conglomerate Godrej group, launched nine new projects/phases in the first half of 2019-20.

Elaborating on sales performance, Godrej Properties said it sold housing properties worth Rs 310 crore in its project 'Godrej South Estate' launched in September in the national capital region.

Similarly, it sold properties worth Rs 253 crore in project 'Godrej Hillside 1' at Pune.

On financial front, the company's net debt rose to Rs 1,089 crore as on September 30, 2019 from Rs 932 crore at the end of the June quarter.

Last week, Godrej Properties reported 50 per cent increase in consolidated net profit at Rs 31 crore for the quarter ended September, while total income declined 22 per cent to Rs 370 crore.

The company's net profit more than doubled to Rs 120.67 crore in the first six months of 2019-20 from Rs 54.87 crore in the year-ago period, while income fell to Rs 1,108.95 crore from Rs 1,553.8 crore.

"The overall environment in the real estate sector remains challenging. This provides Godrej Properties with tremendous opportunity to drive market share growth in residential real estate. We expect strong momentum in both portfolio project additions and new project launches in H2 FY'20," said Pirojsha Godrej, Executive Chairman, Godrej Properties.

Established in 1990, Godrej Properties has successfully delivered over 20 million sq ft of real estate in the past five years. It has about 175 million sq ft of developable area across India.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
Yes Bank 56.25 0.45
SBI 316.70 -1.03
Indiabulls Hsg 258.95 -4.96
Maruti Suzuki 6,994.75 1.57
Reliance 1,572.60 1.14
Company Price Change %Gain
Yes Bank 56.20 0.36
Indiabulls Hsg 259.00 -4.92
SBI 316.75 -0.95
RBL Bank 334.95 -1.14
Reliance 1,572.55 1.13
Top Gainers
Company Price Change %Gain
BPCL 499.65 2.28
HDFC 2,311.40 2.06
Adani Ports 373.60 2.03
Axis Bank 732.00 2.01
JSW Steel 258.85 1.87
Company Price Change %Gain
HDFC 2,310.60 2.06
Axis Bank 731.95 2.01
Maruti Suzuki 6,997.25 1.68
Reliance 1,572.55 1.13
Power Grid Corp 188.30 0.94
Top Losers
Company Price Change %Gain
TCS 2,060.45 -2.97
Cipla 447.90 -1.66
HCL Tech 552.05 -1.47
Zee Entertain 284.15 -1.23
Larsen 1,276.00 -1.15
Company Price Change %Gain
TCS 2,060.70 -2.93
TML-D 66.50 -2.06
HCL Tech 551.60 -1.54
Larsen 1,276.90 -1.04
IndusInd Bank 1,449.00 -1.01

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results