New Delhi, Aug 4 (IANS) Godrej Properties on Tuesday reported a 46 per cent quarter-on-quarter (QoQ) decline in consolidated net profit to Rs 350 crore in the June quarter of FY27, compared with Rs 650 crore in the preceding quarter.
The company’s profit after tax (PAT) also fell 41.7 per cent year-on-year (YoY) from Rs 600 crore in the corresponding quarter of the previous fiscal.
Revenue from operations declined 85 per cent QoQ to Rs 506 crore from Rs 3,458 crore in the March quarter. However, on a YoY basis, revenue rose 16.5 per cent from Rs 435 crore in the year-ago period.
The real estate developer reported an earnings before interest, tax, depreciation and amortisation (EBITDA) loss of Rs 285 crore in Q1 FY27, compared with an EBITDA loss of Rs 243 crore in the corresponding quarter last year.
Other income declined to Rs 839 crore in the June quarter from Rs 1,186 crore a year earlier, according to the company’s regulatory filing.
Moreover, the company reported a booking value of Rs 8,651 crore in Q1 FY27, up 22 per cent YoY, marking the sixth consecutive quarter in which bookings exceeded Rs 7,000 crore.
The company sold 3,738 units covering a total area of 6.2 million square feet during the quarter.
Among key markets, Bengaluru contributed the largest share of bookings at 44 per cent, followed by the Mumbai Metropolitan Region (21 per cent), the National Capital Region (18 per cent), Pune (11 per cent) and Hyderabad (5 per cent).
Apart from the earnings announcement, the company’s board approved the merger of Godrej Housing Projects Ltd with Godrej Properties Ltd.
Following the results, shares of Godrej Properties fell nearly 4 per cent to an intraday low of Rs 1,992.80 on the BSE. The stock has touched a 52-week high of Rs 2,351.60 and a 52-week low of Rs 1,434.
–IANS
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