Godrej Properties clocks net profit of Rs 17 cr for Q1FY22, exits Ambernath proj

Noida: Mumbai-based Godrej Properties Ltd (GPL) has clocked a consolidated net profit of Rs 17 crore for the first quarter of the ongoing fiscal as compared to a net loss of Rs 19 crore in the same quarter of the previous fiscal.

The total income of GPL jumped to Rs 262 crore in the first quarter of the current fiscal as compared Rs 196 crore in the same period of the previous fiscal, the company said in a regulatory filing.

The total booking value of the properties stood at Rs 497 crore in the latest quarter. The company “exited Ambernath project due to non-receipt of certain approvals within the expected timeline from the JV partner and regulatory authorities,” the company said in its investor presentation.

The cash collection of Rs 1,201 crore in the latest quarter was “impacted by the lockdown”, he company said. It delivered 0.5 million square feet in Pune in the latest quarter.