Godrej Properties Q4 Results

Godrej Properties Q4 Results: Company adds 10 new housing projects during FY 2024

Godrej Properties Q4 Results: Godrej Properties released the results for the March quarter of FY 2024 on Friday, May 3.

The company said that its net profit in the March quarter increased by 14 percent to Rs 471 crore, which was Rs 412 crore in the same quarter of the previous financial year.

However, the company's revenue declined during the March quarter. Godrej Properties said that its revenue declined by 15 percent during this period to Rs 1,426 crore, which was Rs 1,646 crore in the same quarter of the previous financial year.

Godrej Properties' adjusted operating profit (EBITDA) declined 2 per cent to Rs 717 crore during the March quarter as against Rs 729 crore in the corresponding quarter of the previous financial year.

For the full FY2024, Godrej Properties' revenue grew to Rs 3,035 crore from Rs 2,252 crore in the preceding FY2023.

At the same time, the adjusted EBITDA of the company increased to Rs 1,379 crore during FY 2024, which was earlier Rs 1,118 crore in FY 2023.

The company added 10 new housing projects during FY2024, which is expected to generate revenue of Rs 21,225 crore.

This is about Rs 15,000 crore more than the booking value target of Rs 15,000 crore given by the company.

Additionally, the company reported bookings worth Rs 22,527 crore during FY2024 and a target of booking Rs 27,000 crore during FY2025.

The company received the highest booking of Rs 10,016 crore from Delhi-NCR. After this, Mumbai stood at second place, where the booking value was Rs 6,545 crore.

Meanwhile, shares of Godrej Properties closed at Rs 222 on NSE with a gain of 1.49 per cent on Friday, May 3.

Since the beginning of this year, the shares of the company have increased by about 28.39 percent. In the last one year, it has given a strong return of 93.84 percent to its investors.