Godrej Properties Q2 outcomes: Revenue surges 403% YoY to Rs 36 crore

MUMBAI: Realty developer reported over 403% on-year leap in consolidated web revenue at Rs 36 crore for the quarter ended September. Whole earnings for the quarter grew 22% to Rs 290 crore.

The corporate’s working revenue for the quarter rose to Rs 105 crore as in comparison with Rs 77 crore a 12 months in the past.

Through the quarter, the developer witnessed a complete reserving worth of Rs 2,574 crore on the again of reserving quantity of three.61 million sq ft as in comparison with whole reserving worth of Rs 1,074 and reserving quantity of 1.73 million sq ft within the 12 months in the past quarter.

“After a weak first quarter, the true property sector has rebounded strongly within the second quarter. Godrej Properties recorded one in every of its finest ever quarters for bookings with a powerful response to new launches throughout India. We now have a strong launch pipeline within the second half of the monetary 12 months and count on to construct on the present momentum,” stated Pirojsha Godrej, Government Chairman, Godrej Properties.

Through the quarter, the corporate entered into an settlement to redevelop a 7.5-acre land parcel in central Mumbai’s Wadala locality. The undertaking is anticipated to supply about 1.6 million sq ft of saleable space comprising primarily residential residences of assorted configurations.

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