GODREJ PROPERTIES : Q3 FY18 Total booking value of Rs. 1,220 Cr

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 3^rd 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.

February 03, 2018