Economy

Godrej Properties Q2 profit soars 91 per cent to Rs 44 crore

Godrej Properties Q2 profit soars 91 per cent to Rs 44 crore”

Mumbai: Real estate firm Godrej Properties Ltd on Friday said net profit almost doubled year-on-year to Rs44.16 crore in the September quarter, helped by higher sales.

BSE's net profits from total operations stood at Rs 63.99 crore, during July-September quarter of 2016-17, the exchange said in a statement. The stock price rose by over 2% to touch its lifetime high of Rs 740 after the company posted 88% YOY rise in consolidated net profit.

Godrej Properties is the real estate arm of the Godrej Group.

Revenue from operations for the half year ended September 30, 2017 increased almost by 24 per cent to Rs 213.39 crore from Rs 172.11 crore in the same period year-ago.

"We registered another strong operational quarter with both sales and business development at record levels". The Mumbai-based firm is developing 147 million sq ft in 12 cities.

Shares of Titan Industries settled 0.56 per cent up at Rs 659.40 apiece on BSE.



Like this

Latest


04 November 2017
Traders Buy Mondelez International, Inc. (MDLZ) on Weakness After Analyst Downgrade
Hargrove Robin S. had sold 6,000 shares worth $269,220. 69 funds opened positions while 216 raised stakes. RBC Capital Markets maintained Mondelez International Inc (NASDAQ: MDLZ ) rating on Thursday, February 4.

04 November 2017
Ellen Barkin Victim of Home Invasion
It happened around 6:45 a.m. inside the 63-year-old's residence in the area of West 12th Street and Sixth Avenue. The suspect did not take anything from Barkin's townhouse and has yet to be apprehended.

04 November 2017
Forever Unbridled scores upset win in Breeders' Cup Distaff
In the end, all that mattered was that she had someone back there to just guide her around the Del Mar Race Course dirt course. Rosario had the call to ride Forever Unbridled so the Del Mar stewards ruled that Fipke must pay double jock mount to Rosario.

04 November 2017
Multi Units France (DSUG.L) Trending Downward Near-term
The indicator is non-directional meaning that it gauges trend strength whether the stock price is trending higher or lower. A certain stock may be considered to be on an uptrend if trading above a moving average and the average is sloping upward.

04 November 2017
Palace assures foreign nations: 'No increased terror threat in PH'
The defense department urges Filipinos to "work closely with government security forces" to fight terrorism. He said the Philippine government verified this with Australian officials.

04 November 2017
Shares now down at $192.02 (TMO) Thermo Fisher Scientific Reports Third…
It turned negative, as 43 investors sold TMO shares while 415 reduced holdings. 99 funds opened positions while 316 raised stakes. It also reduced Comcast Corporation Class A (NASDAQ:CMCSA) stake by 286,297 shares and now owns 3.92 million shares.

04 November 2017
Dinosaur-slaying asteroid metal can eradicate cancer, research suggests
The scientists created a compound of iridium and other organic materials that could be directly targeted towards cancerous cells. The metal, iridium, was in the asteroid with the strongest link to the extinction of dinosaurs .

04 November 2017
Wake Forest looks to build on offensive explosion
Quarterback Brandon Wimbush has thrown 10 touchdowns and two interceptions, and also leads the Irish with 11 rushing touchdowns. He's doing a great job (at Notre Dame) and I'm proud of him. "I want guys to soak it in, realize how lucky we are to be there".

04 November 2017
Signet Jewelers Limited (SIG) Stake Lessened by APG Asset Management NV
Los Angeles Capital Management & Equity Research Inc sold 248,097 shares as Signet Jewelers Limited (SIG)'s stock declined 20.65%. JMP Securities maintained Ashford Hospitality Prime Inc (NYSE:AHP) on Tuesday, August 11 with "Market Outperform" rating.

04 November 2017
Injuries to key defenders add to West Ham's problems
Liverpool came into the campaign with plenty of optimism that they could win their first ever Premier League title. Winston Reid was injured the day before the game [against Crystal Palace].



Recommended