Godrej Properties' Q4 profit at Rs 260 cr; income triples to Rs 1,523 cr

Godrej Properties on Tuesday reported a consolidated net profit of Rs 260.47 crore for the quarter ended March 2022 on higher income.

The company had posted a net loss of Rs 191.57 crore in the year-ago period.

Total income increased to Rs 1,522.57 crore during January-March quarter of the last fiscal year from Rs 576.08 crore in the year-ago period, according to a regulatory filing.

Mumbai-based Godrej Properties posted a net profit of Rs 352.37 crore during 2021-22 fiscal year as against a net loss of Rs 189.30 crore in the previous year.

Total income increased to Rs 2,585.69 crore in the last fiscal year from Rs 1,333.09 crore in 2020-21.

"The real estate sector has strengthened during FY22 and we expect strong growth for the sector over the next few years. We are pleased to close the financial year with our best ever annual sales, cash collections, and earnings. With a robust launch pipeline, strong balance sheet and sectoral tailwinds, we look forward to building on this momentum in FY23," Pirojsha Godrej, Executive Chairman, Godrej Properties, said.

Godrej Properties, the real estate arm of the business conglomerate Godrej Group, is one of the leading developers in the country. It has a significant presence in the property markets of Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune and Bengaluru.