Godrej Properties to launch projects comprising 12.26 mn sq ft in current fisc, 8.06 mn sq ft of launches “delayed”

New Delhi: Mumbai-based Godrej Properties Ltd (GPL) plans to launch new projects comprising 12.26 million square feet space in the ongoing fiscal, even as 8.06 million square feet of launches were “delayed” in the last fiscal 2020-2021 as per its own schedule.

The company is looking at launching new projects having 4.81 million square feet space in the current financial year, while another 7.45 million square feet will be launched in new phases of existing projects.

GPL witnessed delay in launch of 6 projects in the last fiscal totaling 5.13 million square feet and another 2.93 million square feet in phases of exiting projects, according to an investor presentation by the company.

The company saw its best ever quarter for booking value in fourth quarter of last fiscal (2020-2021) with a booking value of Rs 2,632 crore. This was 10 percent higher as compared to the same quarter of the previous fiscal and 77 percent more than the immediately preceding quarter.     

GPL added one new housing project in Mumbai with a saleable area of 0.4 million square feet in fourth quarter of last fiscal (2020-2021). It also witnessed highest ever quarterly collection of Rs 2,041 crore in the same period.

However, GPL suffered a consolidated net loss of Rs 192 crore in fourth quarter of last fiscal (2020-2021) as compared to a net profit of Rs 102 crore in fourth quarter of previous fiscal.