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Godrej Properties' Q4 bookings up 77% to Rs 1,066 cr

For the entire 2013-14 fiscal, however, the bookings declined by 12% in value terms and 27% volume- wise

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Press Trust of India New Delhi
Sales bookings of Godrej Properties rose by 77% to Rs 1,066 crore in the fourth quarter of the last fiscal despite market slowdown.

The realty firm's bookings stood at Rs 601 crore in the January-March quarter of 2012-13.

In an investor presentation, Godrej Properties, an arm of the Godrej group, said it's sales bookings more than doubled in volume terms to 13.43 lakh sq ft during January-March quarter of last fiscal as against 6.36 lakh sq ft in the same period of 2012-13.

For the entire 2013-14 fiscal, however, the bookings declined by 12% in value terms and 27% volume- wise compared with the previous financial year.
 

Sales booking value dropped to Rs 2,438 crore in 2013-14 from Rs 2,762 crore in the previous fiscal. In volume terms, they fell to 29.66 lakh sq ft, from 40.78 lakh sq ft in the 2012-13 fiscal.

"Registered booking value of Rs 2,438 crore despite adverse market conditions. Highest ever sales in a single quarter - surpassed Rs 1,000 crore in quarterly sales in Q4 FY14," the presentation said.

Godrej Properties net debt increased to Rs 1,700 crore as on March 31, 2014 from Rs 1,497 crore at the end of March 2013. However, the company's average borrowing cost improved to 11.34% from 11.74% during the period under review. Debt-equity ratio improved to 0.95 from 1.05%.

Last week, Godrej Properties reported a 9% fall in its consolidated net profit at Rs 48.3 crore in the fourth quarter of last fiscal. Total income rose by 39% to Rs 435.6 crore during quarter ended March 31.

During 2013-14 fiscal, the company's net profit grew by 15% to Rs 159.4 crore while the total income rose by 20% to Rs 1,254.2 crore compared with 2012-13 fiscal.

Mumbai-based Godrej Properties is developing housing, commercial and township projects in 12 cities with 100 million sq ft development potential, of which 20 million sq ft is under construction.

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First Published: May 04 2014 | 12:40 PM IST

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