Godrej Properties Limited announced its financial results for the third quarter ended

   

Consolidated Financials for Q3FY20 Results 

• Total booking value stood at INR 1,189 crore for Q3 FY20 
• EBITDA for Q3 FY20 increased by 60% to INR 151 crore
• Net Profit for Q3 FY20 increased by 9% to INR 45 crore 
• Added 4 new projects with a saleable area of ~12.7 million sq. ft. 

Mumbai, February 03, 2020: Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the third quarter ended December 31, 2019.

CORPORATE HIGHLIGHTS: 

Sales Highlights

• Q3 FY20 witnessed a total booking value of INR 1,189 crore and total booking volume of 1.58 million sq. ft. as compared to total booking value of INR 1,528 crore and total booking volume of 2.80 million sq. ft. in Q3 FY19. 
• 9M FY20 witnessed a total booking value of INR 3,532 crore and total booking volume of 5.19 million sq. ft. as compared to total booking value of INR 3,155 crore and total booking volume of 5.04 million sq. ft. in 9M FY19.

Business Development

Added 4 new projects with saleable area of ~12.7 million sq. ft. in Q3 FY20

Navi Mumbai, MMR

• Entered into a joint venture to develop a Township Project in Navi Mumbai
• The project will be a mixed use development and will offer approximately 7.5 million sq. ft. of saleable area 
• GPL’s economic interest is 55% of profit

Ambernath, MMR

• Entered into a joint venture to develop a land parcel of approximately 6.4 acres in Ambernath
• The project will be developed as a group housing project with approximately 1.1 million sq. ft. of saleable area 
• GPL’s economic interest is 47% of profit

Thane, MMR

• The project is an outright purchase of land in Thane and will offer approximately 1.1 million sq. ft. of saleable area comprising primarily of residential area of various configurations with retail spaces
• It is a 100% owned project

Bagalur, Bangalore

• • The joint venture project is located on the main State Highway 104 and will be developed as a modern affordable housing project providing a saleable area of approximately 3.0 million sq. ft. 
  • GPL’s economic interest is 5.5% of revenue and 49% of profit
  
  

Other Highlights

• Delivered ~1.7 million sq. ft. across 3 cities in Q3 FY20
• GPL received 14 awards in Q3 FY20 and a total of 51 awards in 9M FY20

Commenting on the performance of Q3 FY2020, Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said:

“The overall environment in the real estate sector remains challenging but we continue to believe that the ongoing consolidation in the sector provides Godrej Properties a tremendous opportunity to drive market share growth in residential real estate. We expect to end the year on a strong note with a large number of project launches and project additions expected in the upcoming weeks.”

Financial Overview (Consolidated) 

Q3 FY20 performance overview compared with Q3 FY19

• Total Income increased by 4% to INR 491 crore 
• EBITDA increased by 60% to INR 151 crore
• Net profit increased by 9% to INR 45 crore
• EPS# amounted to INR 1.80  as compared to INR 1.82