Godrej Properties (GPL), a leading national real estate developer, announced a good increase in consolidated net profit for the quarter ended June 2015. During the quarter, the profit of the company rose 20.64% to Rs 550.30 million from Rs 456.16 million in the same quarter last year.
Revenues for the quarter declined 28.40% to Rs 2,375.76 million, compared with Rs 3,318.24 million for the prior year period.
Operating margin for the quarter stood at 21.87 percent as compared to 12.66 percent for the previous year period. Operating Income for the quarter was Rs 519.54 million, compared with Rs 420.12 million in the previous year period.
Earnings per share for the quarter stood at Rs 2.76, registering 20.52% growth over previous year period.
Added 2 new projects with ~1.75 million sq. ft. of saleable area in Q1 FY16.
Pirojsha Godrej, managing director & CEO Godrej Properties, said, ''I am happy to note that GPL in Q1 FY16 has started the year on a strong note by registering its highest ever quarterly sales and highest ever deliveries in a single quarter. Our sales in the first quarter grew by 52% year-on-year and 192% quarter-on-quarter. We look forward to building on this momentum in the year ahead.''
| Quarterly Results - Consolidated (Rs in mn) |
| As at | Jun - 15 | Jun - 14 | %Change |
| Revenues | 2,375.76 | 3,318.24 | (28.40) |
| Net Profit | 550.30 | 456.16 | 20.64 |
| Diluted EPS | 2.76 | 2.29 | 20.52 |
Shares of the company declined Rs 2.25, or 0.85%, to trade at Rs 263.65. The total volume of shares traded was 56,169 at the BSE (12.35 p.m., Tuesday).
