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Godrej Properties Announces Q3 FY17 results

Godrej properties

Q3 FY17 Results

  • Total Income increased 91% YoY to INR 554 crore
  • EBITDA increased 217% YoY to INR 157 crore
  • Net Profit increased 185% YoY to INR 77 crore

New Delhi, 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
  • Delivered 0.21 million sq. ft. at Godrej E-City, Bengaluru
  • Delivered 0.17 million sq. ft. at Godrej Serenity, Mumbai
  • 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

Pirojsha GodrejCommenting 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

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  • 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

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