Q3 FY18 Results
·
76% YoY growth in value of sales
bookings in Q3 FY18 - total booking value stood at INR 1,220 Cr
·
Sales of more than INR 1,200 Cr for the third consecutive
quarter
·
Residential sales in 9M FY18 higher than in any other period
·
9M FY18 sales at Godrej BKC stood at INR 697 Cr leading to
remaining inventory of only ~ 51,000 sq. ft.
·
Added 3 new projects with 5.25 million sq. ft. of saleable area
in January 2018
Godrej
Properties Limited (GPL), a leading national real estate developer, announced
its financial results for the third quarter ended December 31, 2017.
CORPORATE HIGHLIGHTS:
Sales Highlights
- Q3 FY18 witnessed total booking value of INR
1,220 crore and total booking volume of 1,429,843 sq. ft. as compared to total
booking value of INR 693 crore and total booking volume of 1,190,465 sq.
ft. in Q3 FY17
·
Residential sales in
9M FY18 higher than in any other period
·
9M FY18 sales at
Godrej BKC stood at INR 697 Cr leading to remaining inventory of only ~ 51,000
sq. ft.
Business Development
Added 3 new projects with 5.25 million sq. ft. of saleable area in
January 2018
Devanhalli, North Bangalore
- Entered into a partnership to develop a 100 acres
land parcel with saleable are of 2.15 million sq. ft. on NH-648 near
Devanahalli Town in North Bangalore
- In close proximity to Bangalore International
Airport and the planned Aerospace SEZ and IT & Hardware Park,
Devanahalli
- GPL’s first plotted development project and
sixteenth project in Bangalore
 |
| Pirojsha Godrej, Executive Chairman, Godrej Properties Ltd. Electronic City, South Bangalore |
- Entered into a partnership to develop a modern
residential housing project of ~1.4 million sq. ft. with an option to
further increase it to 2 million sq. ft. at Electronic City Phase – I in
South Bangalore
- Offers good connectivity to the Electronic City
flyover, Nice Ring road, Silk Board junction, Hosur main road via Wipro
avenue road, and the upcoming E-city Metro Station
- GPL’s seventeenth project in Bangalore
Noida Expressway, NCR
- Entered into
development management agreement to develop a residential housing
project with saleable area of 1.7 million sq. ft. in the Noida Expressway
micro market
- GPL’s 3rd project in Noida and eleventh project in NCR
Commenting on
the performance of Q3 FY2018, Mr. Pirojsha Godrej, Executive Chairman, Godrej
Properties Limited, said:
“We registered another
strong operational quarter with sales of more than INR 1,200 crore and net operating
cashflow in excess of INR 300 crore. Our booking value
for the year has increased by 140% and we look forward to building on this
momentum in 2018.”
Financial
Overview (Consolidated)
Q3 FY2018
performance overview compared with Q3 FY2017
·
Total Income increased
by 21% to INR 670 crore from INR 554 crore
·
EBITDA decreased
by 43% and stood at INR 89 crore
·
Net profit decreased
by 66% and stood at INR 26 crore
·
EPS#
amounted to INR 1.20 as compared to INR 3.59
9M FY2018
performance overview compared with 9M FY2017
·
Total Income increased
by 23% to INR 1,547 crore from INR 1,258 crore
·
EBITDA decreased
by 3% and stood at INR 282 crore
·
Net profit decreased
by 35% and stood at INR 93 crore
·
EPS#
amounted to INR 4.32 as compared to INR 6.70
#not annualised
About Godrej
Properties Limited:
Godrej Properties brings the Godrej Group philosophy of
innovation, sustainability and excellence to the real estate industry. Each
Godrej Properties development combines a 121–year legacy of excellence and
trust with a commitment to cutting-edge design and technology. Godrej
Properties is currently developing residential, commercial and township
projects spread across approximately 14 million square meters (150 million
square feet) in 12 cities.
In the last 3 years, Godrej Properties has received over 200
awards and recognitions, including the “Real Estate Company Of The Year” at the
Construction Week India Awards 2015, ‘Golden Peacock Award for Sustainability’
for the year 2015 by Institute Of Directors (IOD), “Most Reliable Builder for 2014" at the
CNBC AWAAZ Real Estate Awards 2014, “Innovation Leader in Real Estate” award at
the NDTV Property Awards 2014 and “Popular Choice - Developer of the Year”
award by ET NOW in 2013.
For
further information please contact:
|
Anoop Poojari / Vikram Rajput
CDR India
Tel: +91 22 6645 1211/ 1223
Fax: +91 22 6645 1213
Email: anoop@cdr-india.com/
vikramr@cdr-india.com
|
Rajendra
Khetawat
Godrej
Properties Limited
Tel: +91 22 6169 8500
Fax:
+91 22 6169 8888
Email: rajendra@godrejinds.com
DISCLAIMER:
Some of the
statements in this communication may be ‘forward looking statements’ within the
meaning of applicable laws and regulations. Actual results might differ
substantially from those expressed or implied. Important developments that
could affect the Company’s operations include changes in the industry
structure, significant changes in political and economic environment in India
and overseas, tax laws, import duties, litigation and labour relations.
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