Q3FY17 results: Godrej Properties

Godrej Properties Ltd. reported its results for the quarter ended December 31, 2016 during market hours on Thursday.

The total sales for this quarter, Q3FY17, came in at Rs 518.25 crore. This represents a 57.26 per cent sequential increase and 109.61 per cent YoY increase. The company registered a strong volume growth of 62 per cent on QoQ basis. 

The operating profit (EBIT) for the recently concluded quarter amounted to Rs 117.02 crore and the EBIT margin stood at 22.58 per cent. In terms of the bottom-line, the company reported a PAT figure of Rs 77.25 crore which represents a sequential QoQ increase of 229 per cent and a YoY increase of 186.11 per cent. For the quarter, company's booking value, both residential and commercial stood at Rs 693 crore. 

The company's stock, which opened for trading at Rs 350 on the BSE, has risen by 8.2 per cent after the results were declared and is currently trading around the Rs 377 mark.

Godrej Properties Ltd is an Indian real estate company. The company's business focuses on residential (apartments, villas and plotted developments), commercial(including corporate office blocks, built-to-suit facilities, technology parks and campuses) and township developments. Besides, the company also launched two new projects each in Greater Noida and Pune.