Godrej Properties net profit dips
Godrej properties reported a year-on-year dip of 66% in its net profit during the quarter ending December 2017. Its profit after tax (PAT) stood at Rs 25.94 crore as against Rs 77.24 crore it recorded in the similar quarter last year.
The company’s net income, however, increased by 21% to Rs 670 crore during the said period.
“We registered another strong operational quarter with sales of more than Rs 1,200 crore and net operating cashflow in excess of Rs 300 crore. Our booking value for the year has increased by 140% and we look forward to building on this momentum in 2018,” said Pirojsha Godrej, executive chairman, Godrej Properties.
Godrej Properties entered into three joint ventures in the quarter ending December with two being in Bengaluru and one in Noida.