Godrej Properties posted its Q2FY20 result on Tuesday. The real estate firm reported a net profit of Rs31cr for Q2FY20, a rise of 50% yoy. However, PAT dipped 66% qoq.
Total income also fell 22% yoy to Rs370cr in Q2FY20 vs. Rs473cr in Q1FY20. EBDITA rose 96% yoy to Rs135cr in the September 2019 quarter.
Further, the company posted a 79% yoy growth in value of sales booking for Q2FY20 to Rs1,446cr and 44% yoy growth in value of sales booking for H1FY20 to Rs2,343cr.
Commenting on the performance of Q2 FY2020, Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said: "The overall environment in the real estate sector remains challenging. This provides Godrej Properties with tremendous opportunity to drive market share growth in residential real estate. We expect strong momentum in both portfolio project additions and new project launches in H2 FY20."
Stock View:
Godrej Properties Ltd is currently trading at Rs963 down by Rs23 or 2.33% from its previous closing of Rs986 on the BSE.
The scrip opened at Rs986 and has touched a high and low of Rs986 and Rs950.05 respectively. So far 5,66,554 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs24,849.51cr.
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