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Godrej Property Q2 FY2015 Results

  • Q2 FY2015 Net Profit increased by 36% to INR 46.6 crore
  • 177% growth in volume & 164% growth in value of sales
  • Crossed 1 million sq.ft. in sales for the third consecutive quarter 

Mumbai, November 06 2014: Godrej Properties Limited (GPL), a leading national real estate developer, today announced its financial results for the second quarter ended September 30, 2014.

CORPORATE HIGHLIGHTS:

Sales Highlights 

Sales in January – September 2014higher than in any previous financial year

  • Q2 FY2015booking value increased by 164% to INR 880 Cr and booking volume increased by 177% to 1.40 million sq. ft.
  • Launched 4 new projects/phases across Mumbai, Gurgaon and Bangalore
  • Residential projects recorded booking value of INR 829 Cr and booking volume of 1.29million sq. ft.
  • Commercial projects witnessed booking value of INR 51 Cr and booking volume of 0.11million sq. ft.
  • Over 150,000 sq.ft. of sales in 5 separate cities (Mumbai, Gurgaon, Bangalore, Ahmedabad & Kolkata) 

Business Development Highlights 

Added 1 new project with 1.3 million sq.ft. of saleable area in Q2 FY15

Badlapur, Mumbai*

  • Added GPL’s eighteenth project in Mumbai with 1.3 million sq.ft. of saleable area
  • Located on the Badlapur – Karjat Road with close proximity to Badlapur MIDC

*The partnership agreement was signed in September 2014 but registration and announcement happened in the first week of October 2014

Other Highlights

  • ICRA has upgraded long term rating of Godrej Properties to AA- from A+
  • Delivered 200 apartments in Phase 1 of Godrej Anandam , Nagpur in September
  • GPL received 19 awards in Q2 FY2015

Commenting on the financial performance of Q2&H1 FY2015, Mr. Pirojsha Godrej, Managing Director & CEO Godrej Properties Limited, said:

We are pleased with the company’s performance in 2014. The response to our new project launches across the country has been excellent. We look forward to delivering an even stronger performance in H2 FY15.” 

Financial Overview (Consolidated) 

Q2 FY2015performance overview compared with Q2FY2014

  • Total income stood at INR 307 crore compared to INR 320 crore
  • EBITDA stood at INR 70 crore compared to INR 95 crore
  • Net profit increased by 36% to INR 47 crore from INR 34 crore
  • EPS* amounted to INR 2.34 as compared to INR 1.97 

H1 FY2015performance overview compared with H1FY2014

  • Total income increased by 19% to INR 670 crore from INR 565 crore
  • EBITDA stood at INR 145 crore compared to INR 178 crore
  • Net profit increased by 25% to INR 92 crore from INR 74 crore
  • EPS* amounted to INR 4.63 as compared to INR 4.3

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