Godrej Properties' Q4 Profit At Rs 260 Cr; Income Triples To Rs 1,523 Cr

on Tuesday reported a consolidated net profit of Rs 260.47 crore for the quarter ended March 2022 on higher income.

The company had posted a net loss of Rs 191.57 crore in the year-ago period.

Total income increased to Rs 1,522.57 crore during January-March quarter of the last fiscal year from Rs 576.08 crore in the year-ago period, according to a regulatory filing.

Mumbai-based posted a net profit of Rs 352.37 crore during 2021-22 fiscal year as against a net loss of Rs 189.30 crore in the previous year.

Total income increased to Rs 2,585.69 crore in the last fiscal year from Rs 1,333.09 crore in 2020-21.

"The real estate sector has strengthened during FY22 and we expect strong growth for the sector over the next few years. We are pleased to close the financial year with our best ever annual sales, cash collections, and earnings. With a robust launch pipeline, strong balance sheet and sectoral tailwinds, we look forward to building on this momentum in FY23," Pirojsha Godrej, Executive Chairman, Godrej Properties, said.

Godrej Properties, the real estate arm of the business conglomerate Godrej Group, is one of the leading developers in the country. It has a significant presence in the property markets of Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune and Bengaluru.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

RECENT NEWS

Central Banks And The Economic Horizon: Steering Through Uncertaintie

In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more

Transforming Financial Operations With Robotic Process Automation

Author: Ricardo Goulart                           ... Read more

The Role Of Machine Learning In Fraud Detection

        Author: Gerardine Lucero                  &nbsp... Read more

Principles Of Islamic Banking And Finance

When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more

The Role Of Central Banks In Global Economy

The role of central banks in global economy is a stimulating topic that requires profound understanding. Commonly, centr... Read more

History Of Banking Evolution In The 21st Century

Throughout time, the banking sector has assumed a central role in the smooth functioning of economies, generating growth... Read more