Godrej Properties FY’22 profit at ₹352 cr; sales bookings up 17 per cent

Realty firm Godrej Properties on Tuesday reported a consolidated net profit of ₹260.47 crore for the quarter ended in March while its sales bookings grew by 23 per cent to ₹3,248 crore on improved housing demand despite the second wave of the Covid-pandemic.

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

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

For the fiscal year 2021-22, Godrej Properties posted a net profit of ₹352.37 crore as against a net loss of ₹189.30 crore in the previous year.

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

Sales bookings

On operational front, Godrej Properties said that its sales bookings rose 23 per cent to ₹3,248 crore. The sales bookings increased 17 per cent in the entire last fiscal to ₹7,861 crore, of which ₹7,781 crore came from the residential properties. It sold 9,121 homes with a total area of 10.8 million square feet in FY22.

The company achieved record sales bookings during the fourth quarter as well for the full last financial year.

Pirojsha Godrej, Executive Chairman, Godrej Properties, said: “The real estate sector has strengthened during FY22 and we expect strong growth 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.”

During the 2021-22 fiscal, the company added six new residential projects with around 9.33 million square feet of saleable area. The company delivered around 6.4 million square feet across five cities in FY22. The collections from customers was also record at ₹6,907 crore in FY22.

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Published on


May 03, 2022