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Godrej properties Q1 PAT up, total income down

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Godrej Properties announced its first quarter results, reporting a 21% increase in net profit to Rs 55 cr.

Total income fell to Rs 263 crore compared to 363 crore, while EBITDA increased by 7% to INR 81 crore from INR 75 crore. EPS amounted to INR 2.76 as compared to INR 2.29.

Total booking value during the quarter was at Rs 1,251 Cr vs Rs 824 crore last year, same quarter.

It also achieved highest ever deliveries in a single quarter – 1.72 million sq. ft.

The quarter saw total booking volume of 1,321,385 sq. ft. as compared to 1,091,603 sq. ft. in Q1 FY2015.

Residential projects recorded booking value of INR 1,247 crore and booking volume of 1,311,975 sq. ft. last year.

Commenting on the financial performance of Q1 FY2016, Mr. Pirojsha Godrej, Managing Director & CEO Godrej Properties Limited, 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.”

The company delivered 912 units measuring 1 million sq. ft. at Godrej Garden City, Ahmedabad, 84 units measuring 0.11 million sq. ft. at Godrej Horizon, Pune, 33 villas measuring 0.11 million sq. ft. at Godrej Gold County, Bangalore and 0.5 million sq. ft. commercial space at Godrej Eternia, Chandigarh.

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