Godrej Properties Q2 net profit drops 78% at ₹7.1 crore1 min read . Updated: 03 Nov 2020, 04:13 PM IST
Total income for the second quarter of this fiscal also fell to ₹250.23 crore from ₹395.11 crore in the corresponding period of the previous year
Its net profit stood at ₹31.57 crore in the year-ago period.
Total income for the second quarter of this fiscal also fell to ₹250.23 crore from ₹395.11 crore in the corresponding period of the previous year, according to a regulatory filing.
Godrej Properties is the real estate arm of the business conglomerate Godrej Group.
The company's sales bookings stood at ₹1,074 crore for the September quarter as compared to ₹1,446 crore in the corresponding period of the previous year, the Mumbai-based developer said in a statement.
Godrej Properties Executive Chairman Pirojsha Godrej said: "The real estate sector continues to be impacted by the pandemic but we believe this provides Godrej Properties with a tremendous opportunity to drive market share growth in residential real estate."
He said the company's planned launches in the second quarter were postponed due to delays in regulatory approval.
"With a robust launch pipeline in the second half of the financial year, we expect strong sales momentum during this period," Godrej said.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.