Godrej Properties Limited (GPL), a real-estate developer, has announced its financial results for the fourth quarter and year ended March 31, 2017. Its Q4 FY17 net profit came in at Rs 63 crore. FY17 net profit has gone up by 30 per cent y-o-y to Rs 207 crore. The company sold more than 1 million sq ft with a booking value in excess of Rs 560 crore at Godrej Golf Links in Greater Noida in FY17. It also delivered 4.55 million sq ft across four cities in FY17.Sales Highlights
- FY2017 witnessed total booking value of Rs 2,020 crore and total booking volume of 3,109,240 sq ft;
- Residential projects recorded booking value of Rs 1,784 crore and booking volume of 2,999,341 sq ft in FY17;
- Commercial projects recorded booking value of Rs 237 crore and booking volume of 109,899 sq ft in FY17;
- Q4 FY2017 witnessed total booking value of Rs 340 crore and total booking volume of 589,169 sq ft.
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Other Highlights
- 27 awards received in Q4 FY17
- Godrej Horizon received IGBC Gold certification
Commenting on the performance, Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said, "FY17 has been a strong year for business development as we added seven new projects with a saleable area of 18 million sq ft. We entered the Noida market and sold more than 1 million sq ft despite weak market conditions. We have started FY18 well and sold over 1,000 apartments with successful launches across Mumbai, Pune and NCR. We look forward to building on this momentum in the year ahead."