Godrej Properties announced its financial results forQ3 FY17

2024-04-15 11:53:23 Business

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Mumbai, February 02 2017: Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the third quarter ended December 31, 2016.

CORPORATE HIGHLIGHTS:

Sales Highlights

? Q3 FY2017 witnessed total booking value of INR 693 crore and total booking volume of 1,190,465 sq. ft. as compared to total booking value of INR 600 crore and total booking volume of 736,891 sq. ft. in Q2 FY2017
? Residential projects recorded booking value of INR 657 crore and booking volume of 1,180,384 sq. ft. in Q3 FY17
? Commercial projects recorded booking value of INR 36 crore and booking volume of 10,081 sq. ft. in Q3 FY17

Construction Highlights

? Delivered 418 apartments measuring 0.48 million sq. ft. across 3 cities in Q3 FY17
o Delivered 0.21 million sq. ft. at Godrej E-City, Bengaluru
o Delivered 0.17 million sq. ft. at Godrej Serenity, Mumbai
o Delivered 0.10 million sq. ft. at Godrej Horizon, Pune

Other Highlights

? Godrej BKC received Platinum certification under Indian Green Building Council (IGBC) Leadership in Energy and Environmental Design (LEED) India Core & Shell (CS) Rating which is globally recognized as the highest rating for sustainable buildings
? 8 awards received in Q3 FY17

Commenting on the performance of Q3 FY2017, Mr. Pirojsha Godrej, Managing Director & CEO Godrej Properties Limited, said:

?Our total revenue for the third quarter increased by 91%, EBITDA grew by 217% and net profit increased by 185%. Additionally, the response to our new project launches in Noida and Pune has been excellent despite challenging market conditions. As we commence the final quarter of the financial year, we look forward to building on this momentum. The sector recovery will also be aided by the reforms proposed in the 2017 Union Budget which have a potential to provide a major lift to the real estate industry.?

Financial Overview (Consolidated)

Q3 FY2017 performance overview compared with Q3 FY2016
? Total Income increased by 91% to INR 554 crore from INR 291 crore
? EBITDA* increased by 217% to INR 157 crore from INR 49 crore
? Net profit increased by 185% to INR 77 crore from INR 27 crore
? EPS# amounted to INR 3.59 as compared to INR 1.36

9M FY2017 performance overview compared with 9M FY2016
? Total income decreased by 33% and stood at INR 1,258 crore
? EBITDA* increased by 3% to INR 290 crore from INR 282 crore
? Net profit decreased by 16% and stood at INR 144 crore
? EPS# amounted to INR 6.7 as compared to INR 8.61

*EBITDA = PBT + Interest + Depreciation + Share of profit in Joint Venture
#not annualised

About Godrej Properties Limited:

Godrej Properties brings the Godrej Group philosophy of innovation, sustainability and excellence to the real estate industry. Each Godrej Properties development combines a 120 year legacy of excellence and trust with a commitment to cutting-edge design and technology. Godrej Properties is currently developing residential, commercial and township projects spread across approximately 11.98 million square meters (129.56 million square feet) in 12 cities.

In the last 3 years, Godrej Properties has received over 150 awards and recognitions, including the ?Real Estate Company Of The Year? at the Construction Week India Awards 2015, ?Golden Peacock Award for Sustainability? for the year 2015 by Institute Of Directors (IOD), ?Most Reliable Builder for 2014" at the CNBC AWAAZ Real Estate Awards 2014, ?Innovation Leader in Real Estate? award at the NDTV Property Awards 2014 and ?Popular Choice - Developer of the Year? award by ET NOW in 2013.

For further information please contact:

Rajendra Khetawat Godrej Properties Limited Tel: +91 22 6169 8500
Fax: +91 22 6169 8888
Email: rajendra@godrejinds.com/

Anoop Poojari / Vikram Rajput CDR India
Tel: +91 22 6645 1211/ 1223
Fax: +91 22 6645 1213
Email: anoop@cdr-india.com/ vikramr@cdr-india.com

DISCLAIMER:
Some of the statements in this communication may be ?forward looking statements? within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the Company?s operations include changes in the industry structure, significant changes in political and economic environment in India and overseas, tax laws, import duties, litigation and labour relations.