Godrej Properties Q2 net profit rises 54 pc to Rs 54.96 cr

Realty firm Godrej Properties on Wednesday reported a 54 per cent increase in its consolidated net profit to Rs 54.96 crore for the second quarter ended September on higher income. Its net profit stood at Rs 35.73 crore in the year-ago period.

Realty firm Godrej Properties on Wednesday reported a 54 per cent increase in its consolidated net profit to Rs 54.96 crore for the second quarter ended September on higher income. Its net profit stood at Rs 35.73 crore in the year-ago period. Its total income also rose to Rs 369.20 crore in the second quarter of this fiscal from Rs 334.22 crore a year ago, according to a regulatory filing.

On Tuesday, Godrej Properties Ltd said it has acquired 12 acres of land in Pune for the development of a housing project that has an estimated sales revenue potential of about Rs 2,000 crore. Godrej Properties, which is part of the business conglomerate Godrej Group, is one of the leading real estate developers in the country.