Godrej posts Rs 7 cr net profit in Q2

Godrej Properties Limited has announced its financial results for the second quarter ended September 30, 2020.

The real estate developer’s total Income for Q2 FY21 stood at Rs 238 crore as compared to Rs 370 crore. The EBITDA was Rs 77 crore as compared to Rs 135 crore during the corresponding quarter. The net profit of the company stood at Rs 7 crore as compared to Rs 32 crore in Q2 FY20.

Commenting on the performance, Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said: “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. While our planned launches in the second quarter were postponed due to regulatory approval delays, we were happy to see one of our strongest ever quarters for sales from existing projects. With a robust launch pipeline in the second half of the financial year, we expect strong sales momentum during this period.”