Godrej Properties’ net income increased by 44.54% in Q3FY23

Godrej Properties (GPL) recorded an increase in its net consolidated profit of 44.54 percent for the quarter that concluded on December 31, 2022. In a BSE filing, the company stated that its profit after tax (PAT) increased to Rs 56.40 crore in Q3 FY23 from Rs 39.02 crore the prior year's corresponding quarter. The company's net consolidated income for the third quarter of FY23 was Rs 404.58 crore, down 13.35% from Rs 466.91 crore it reported for the same quarter last year.

In an interview captured by ET Realty, Executive Chairman of the Company, Pirojsha Godrej remarked, “The best quarter ever for sales bookings and business development was recorded by GPL, two standout third-quarter performances. This puts us in a strong position to beat our FY23 bookings guidance of Rs 10,000 crore and to grow rapidly from this foundation going forward.

Under the Employee Stock Grant Scheme (ESGS), the company granted 30,869 additional shares of stock to qualified workers during the nine months that ended on December 31, 2022. Additionally, the business reported in the regulatory filing that it had allotted 32,897 equity shares during the nine months that ended December 31, 2022, following the exercise of stock grants made under the employee stock grant programme.

The business stated in a press release that its booking value increased by 111% to Rs 3,252 crore and its 9M FY23 bookings increased by 77% year over year to Rs 8,181 crore.

Next (Noida homebuyers’ protests intensify as they approach the Indian President)

Godrej Properties’ net income increased by 44.54% in Q3FY23

This Month

Overview

Explore

Join Us