Connect with us






Main

GPL’s best ever quarter for residential sales – residential booking value of INR 1,472 Cr

Godrej properties

Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the first quarter ended June 30, 2017.

CORPORATE HIGHLIGHTS:

Sales Highlights

  • Q1 FY18 witnessed total booking value of INR 1,474 crore and total booking volume of 1,799,678 sq. ft. as compared to total booking value of INR 387 crore and total booking volume of 592,715 sq. ft. in Q1 FY17
  • 4 successful new project/phase launches in Mumbai, Pune & NCR

Business Development

Added 4 new projects with ~4.9 million sq. ft. of saleable area in Q1 FY18

Sector 33 – Sohna, Gurgaon

Advertisement






  • Entered into a partnership to develop a residential group housing project with saleable area of 1.7 million sq. ft.
  • GPL’s first project in Sohna and 8th project in NCR
  • Located 12 kms from Golf Course Extension Road and offers easy access to Gurgaon from Sohna Road

New Gurgaon, NCR

  • Entered into a partnership to develop a residential group housing project with saleable area of 1.05 million sq. ft.
  • GPL’s 9th project in NCR
  • Located 5 kms from NH 8 and easily accessible via a network of main sector roads

Magadi Road, Bangalore

  • Entered into a development management agreement to develop a premium residential group housing project with saleable are of 0.6 million sq. ft.
  • GPL’s first project in the micro market of West Bangalore and 13th project in Bangalore
  • Located in close proximity to the Central Business District (CBD), Race Course, Majestic and Rajarajeshwari Nagar

Sector 106, Gurgaon*

  • Acquired a land parcel measuring ~14.8 acres in Sector 106, Gurgaon for developing a high-end residential housing project with saleable area of ~1.5 million sq. ft.
  • GPL’s 10th project in NCR
  • Located in an upcoming residential area in Gurgaon that is seamlessly connected to New Delhi through a 75 meter wide road
  • Project will be developed in partnership with Godrej Residential Investment Program II. This is the fourth project under GRIP II, the ~US$ 275 million fund which was announced in March 2016

*Partnership agreement was signed in June 2017 but registration and announcement happen in the first week of July 2017

Construction Highlights

  • Delivered 1,101 apartments measuring 2 million sq. ft. across 2 cities in Q1 FY18
    • Delivered 998 apartments measuring 1.86 million sq. ft. at Godrej Summit, Gurgaon
    • Delivered 103 apartments measuring 0.15 million sq. ft. at Godrej Platinum, Vikhroli

Other Highlights

  • Godrej Garden City becomes the largest township in India to receive Platinum Certification under the Indian Green Building Council (IGBC) Green Residential Society Rating System
  • Partnered with Taj Hotels to develop a world class Taj brand hotel at The Trees, Vikhroli
  • 10 awards received in Q1 FY18

Commenting on the performance of Q1 FY2018, Mr. Pirojsha Godrej, Executive Chairman Godrej Properties Limited, said:

“Our total sales for Q1 FY18 stood at Rs.1,474 crore which was our highest ever residential sales in a quarter. We also added 4 new projects to our portfolio and had one of our best ever quarters in terms of operating cash flow. We look forward to building on this momentum in the year ahead.”

Financial Overview (Consolidated)

Q1 FY2018 performance overview compared with Q1 FY2017

  • Total Income increased by 3% to INR 345 crore from INR 335 crore
  • EBITDA increased by 9% to INR 78 crore from INR 71 crore
  • Net profit decreased by 46% and stood at INR 23 crore
  • EPS# amounted to INR 1.08 as compared to INR 2.03

Trending