Godrej properties reports healthy numbers for 9MFY20

Amid weak sentiments and challenging times for the housing construction sector, Godrej properties has come up with strong set of numbers for nine month ending December of 2019. These numbers has helped the stock to give robust returns over last one year since February 2019-20. The stock gained as much as 49 per cent against 36 per cent given by Sensex during the same period.

For the period of 9MFY20, the company has sold properties worth Rs, 3,532 crore, up 12 per cent as compared to a year-ago same period.

In terms of volume, the company sold nearly 52 lakh sq ft area, an increase of 3 per cent from the corresponding period of the previous year. Out of the total sales bookings of Rs. 3,532 crore achieved during the first nine months of this financial year, the housing segment contributed Rs. 3,471 crore. Sales of commercial properties stood at Rs 61 crore.

The December 2019 quarter results though, remained weak 44 per cent drop in sold area on YoY basis. Company sold 1583142 sq.ft. during Q3FY20 as compared to 2802425 sq.ft. for same period last fiscal.

Today, at 1.00 pm stock traded at Rs.1111.75, down by 0.06 per cent on BSE.