Godrej Industries hikes its stake in Godrej Properties
New Delhi: Godrej Properties Ltd’s parent company Godrej Industries has hiked its holding in the realty company by purchasing 2.53 percent stake. The additional stake has been bought by Godrej Industries from 6 Godrej family trusts for about Rs 997.2 crore.
With this move, the overall holding of Godrej Industries has gone up to 47.29 percent, according to a data available with stock exchanges.
Godrej Properties Ltd clocked a consolidated net loss of Rs 192 crore during the fourth quarter of the last fiscal as compared to a net profit of Rs 102 crore a year ago. The total Income of the company for the fourth quarter fell to Rs 508 crore from around Rs 1,261 crore a year ago.
Godrej Properties also reported its highest-ever quarterly collection of Rs 2,041 crore in the fourth quarter of the last fiscal.