Report

Godrej Properties Announces Q3 FY17 results

Q3 FY17 Results

Total Income increased 91% YoY to INR 554 crore
EBITDA increased 217% YoY to INR 157 crore
Net Profit increased 185% YoY to INR 77 crore

New Delhi, February 02 2017: Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the third quarter ended December 31, 2016.

CORPORATE HIGHLIGHTS:

Sales Highlights

Q3 FY2017 witnessed total booking value of INR 693 crore and total booking volume of 1,190,465 sq. ft. as compared to total booking value of INR 600 crore and total booking volume of 736,891 sq. ft. in Q2 FY2017
Residential projects recorded booking value of INR 657 crore and booking volume of 1,180,384 sq. ft. in Q3 FY17
Commercial projects recorded booking value of INR 36 crore and booking volume of 10,081 sq. ft. in Q3 FY17

Construction Highlights

Delivered 418 apartments measuring 0.48 million sq. ft. across 3 cities in Q3 FY17
Delivered 0.21 million sq. ft. at Godrej E-City, Bengaluru
Delivered 0.17 million sq. ft. at Godrej Serenity, Mumbai
Delivered 0.10 million sq. ft. at Godrej Horizon, Pune

Other Highlights

Godrej BKC received Platinum certification under Indian Green Building Council (IGBC) Leadership in Energy and Environmental Design (LEED) India Core & Shell (CS) Rating which is globally recognized as the highest rating for sustainable buildings
8 awards received in Q3 FY17

Commenting on the performance of Q3 FY2017, Mr. Pirojsha Godrej, Managing Director & CEO Godrej Properties Limited, said: “Our total revenue for the third quarter increased by 91%, EBITDA grew by 217% and net profit increased by 185%. Additionally, the response to our new project launches in Noida and Pune has been excellent despite challenging market conditions. As we commence the final quarter of the financial year, we look forward to building on this momentum. The sector recovery will also be aided by the reforms proposed in the 2017 Union Budget which have a potential to provide a major lift to the real estate industry.”