BackGodrej Properties’ Q4 bookings up 77% to `1,066 crore
The realty firm's bookings stood at `601 crore in the January-March quarter
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New Delhi: Sales bookings of Godrej Properties Ltd rose by 77% to 1,066 crore in the fourth quarter of the last fiscal despite a market slowdown. The realty firm’s bookings stood at 601 crore in the January-March quarter of 2012-13.
In an investor presentation, Godrej Properties, an arm of the Godrej Group, said it’s sales bookings more than doubled in volume terms to 1.343 million sq ft during the January-March quarter of last fiscal as against 636,000 sq ft in the same period of 2012-13. For the entire 2013-14 fiscal, however, the bookings declined by 12% in value terms and 27% volume-wise compared with the previous financial year. Sales booking value dropped to 2,438 crore in 2013-14 from 2,762 crore in the previous fiscal. In volume terms, they fell to 2.966 million sq ft, from 4.078 million sq ft in the 2012-13 fiscal. “Registered booking value of 2,438 crore despite adverse market conditions. The highest ever sales in a single quarter—surpassed 1,000 crore in quarterly sales in Q4 FY14," the presentation said. Godrej Properties’ net debt increased to 1,700 crore as on 31 March 2014 from 1,497 crore at the end of March 2013. However, the company’s average borrowing cost improved to 11.34% from 11.74% during the period under review. Debt-equity ratio improved to 0.95 from 1.05%. Last week, Godrej Properties reported a 9% fall in its consolidated net profit at 48.3 crore in the fourth quarter of last fiscal. Total income rose by 39% to 435.6 crore during quarter ended 31 March. During 2013-14 fiscal, the company’s net profit grew by 15% to 159.4 crore while the total income rose by 20% to 1,254.2 crore compared with 2012-13 fiscal. Mumbai-based Godrej Properties is developing housing, commercial and township projects in 12 cities with 100 million sq ft development potential, of which 20 million sq ft is under construction.
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