Godrej Properties (GPL), the real estate arm of the Godrej group, posted a two-fold year-on-year increase in the company’s consolidated net profit to R106 crore for the quarter ended September 30, 2015.
The company’s consolidated total income surged nearly 5-fold to Rs 1,481 crore during the quarter.
The company recorded its highest ever sales in a single quarter during the September quarter, with a booking value of R1,957 crore. During the quarter, GPL closed India’s largest ever end-user transaction in commercial real estate by selling 4.35 lakh square feet office space at Godrej BKC project, Mumbai for R1,479 crore. The deal was transacted at a price of R34,000 per sq ft with pharmaceutical major Abbott.
The company’s EBIDTA was also up nearly 3 fold to R188 crore on a y-o-y basis.