“Godrej Properties Surges: 14% Rise in Quarterly Net Profit Reflects Strong Housing Demand”

By The Capital

On 03 May 2024 13:46:12

“Godrej Properties Surges: 14% Rise in Quarterly Net Profit Reflects Strong Housing Demand”

Godrej Properties, a prominent real estate developer in India, has reported a 14% increase in its consolidated net profit for the quarter ended in March. The net profit…

Godrej Properties, a prominent real estate developer in India, has reported a 14% increase in its consolidated net profit for the quarter ended in March. The net profit stands at Rs 471.26 crore, compared to Rs 412.14 crore in the same period last year. The rise in net profit is attributed to strong housing demand, which has increased the company’s total income for the quarter to Rs 1,914.82 crore from Rs 1,838.82 crore in the previous year.

Furthermore, during the 2023-24 fiscal year, the company’s net profit increased to Rs 725.27 crore from Rs 571.39 crore in the preceding year. The total income for the fiscal year also rose to Rs 4,334.22 crore from Rs 3,039 crore in the 2022-23 financial year.