Godrej Properties posts a net income of 369cr Q2 of FY23

Source: ET Realty

As per reports published, Godrej Properties Ltd posted a net consolidated income of Rs 369.20 crore in Q2 FY23, up 10.47% from Rs 334.22 crore it earned in the same quarter the previous year. The company said in a BSE filing that its profit after tax increased to Rs 67.03 crore in Q2 FY23 from Rs 35.73 crore in the equivalent period of the previous fiscal year.

In Q2 FY23, the company saw total booking volume of 2.71 million sq ft and total booking value of Rs 2,409 crore. Sales bookings increased by 60% to Rs 4,929 crore from Rs 3,072 crore in the same period the previous year between April and September 2022. At the halfway point of the fiscal year, the company's executive chairman, Pirojsha Godrej, stated, "We are optimistic of achieving our booking value guidance of Rs 10,000 crore for FY23."

The company granted 30,869 additional shares of stock to qualified workers during the six months ended September 30, 2022, in accordance with the Employee Stock Grant Scheme (ESGS). Additionally, the corporation distributed 32,897 equity shares during the six months that ended on September 30, 2022, upon the exercise of stock grants made under the Employee Stock Grant Scheme.

According to the company's regulatory filing, as of September 30, 2022, its net worth was Rs 8,777.87 crore, debt-to-equity ratio (gross) was 0.81, total debts to total assets was 0.28, operating margin was -38.77%, and net profit margin was 20.50%.

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Godrej Properties posts a net income of 369cr Q2 of FY23

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