Godrej Properties suffers net loss of Rs 20 cr for Q1FY21

New Delhi: Mumbai-based Godrej Properties Ltd suffered a net loss of Rs 20 crore for the first quarter of the current fiscal as compared to a net profit of Rs 89 crore in the corresponding quarter of the previous fiscal.

The consolidated revenue from operations of the company tanked 89 percent to Rs 72 crore for the first quarter of the current fiscal as compared to Rs 635 crore in the corresponding quarter of the previous fiscal.

The consolidated total expenses of the company dropped Rs 180 crore for the first quarter of the current fiscal as compared to Rs 567 crore in the corresponding quarter of the previous fiscal, the company said in a regulatory filing.

 

The total booking value of properties in the first quarter of the current fiscal jumped 71 percent to Rs 1,531 crore as compared to Rs 897 crore in the corresponding quarter of the previous fiscal. The total booking volume of space stood at 2.5 million square feet i the first quarter of the current fiscal as compared to 1.35 million square feet in the corresponding quarter of the previous fiscal.

The realty firm raised Rs 1,000 crore towards the end of last month through allotment of unsecured, redeemable, non-convertible debentures for 3 years at 7.5 percent. It also let out 2 lakh square feet office space to A.P. Moller – Maersk. 

The company has resumed construction on most of the sites after the lockdown has been lifted. The labor headcount at the end of last month was at 60 percent of the of pre-corona levels, the company said in a statement.

menu
menu