Total income in the third quarter of this fiscal fell to ₹311.12 crore from ₹517.47 crore in the corresponding period of the previous year, according to a regulatory filing.
The company's sales bookings rose 25 per cent to ₹1,488 crore in the third quarter of this fiscal from ₹1,189 crore in the year-ago period. It has delivered around 1.3 million square feet in Q3 of FY21.
"The real estate sector has recovered from the initial impact of the pandemic. Government action to reduce stamp duties and premiums in Maharashtra combined with a higher intent towards home ownership as a result of the pandemic have helped drive a turnaround in sentiment towards residential real estate," said Pirojsha Godrej, Executive Chairman, Godrej Properties Ltd.
The construction levels and cash flows have normalised in the third quarter, he said.
"With a large number of new project launches planned for the fourth quarter, we expect to end the year on a strong note and enter the new financial year with strong momentum," Godrej said.
During April-December of FY21, Godrej Properties clocked a net profit of ₹2.19 crore, registering a sharp drop from ₹168.13 crore in the year-ago period.