Mumbai: Godrej Properties Limited (GPL), a leading national real estate developer, today announced its financial results for the second quarter ended September 30, 2015.
*CORPORATE HIGHLIGHTS:*
*Godrej BKC Deal*
– Sold 435,000 sq.ft. at Godrej BKC, Mumbai for INR 1,479 crore
– Largest ever end-user commercial real estate transaction in India
– Price of Rs. 34,000 per sq.ft. is the highest price achieved on any major commercial real estate deal in Mumbai in the recent past
– High strategic importance given GPL’s plan to unlock capital from commercial portfolio and redeploy it into new residential projects
– Project will be delivered by mid-2016
*Sales Highlights*
Highest ever value of bookings in a single quarter
– Q2 FY16 witnessed total booking value of INR 1957 crore and total booking volume of 1,256,014 sq. ft. as compared to total booking value of INR 880 crore and total booking volume of 1,397,671 sq. ft. in Q2 FY15
– Residential projects recorded booking value of INR 478 crore and booking volume of 821,014 sq. ft. in Q2 FY16
– Commercial projects recorded booking value of INR 1,479 crore and booking volume of 435,000 sq. ft. in Q2 FY16
*Construction Highlights*
Delivered 1.4 million sq.ft. of residential space across four cities in Q2 FY16
– Delivered 624 units measuring 0.84 million sq.ft. in Phase 2 of Godrej Prakriti, Kolkata
– Delivered 192 units measuring 0.26 million sq.ft. in Phase 2 of GGC, Ahmedabad
– Delivered 73 units measuring 0.17 million sq.ft. at Godrej Anandam, Nagpur
– Delivered 103 units measuring 0.15 million sq.ft. at Godrej Platinum, Mumbai
*Other Highlights*
– 3 projects received IGBC Green Homes pre-certification
– ICRA has upgraded GPL’s long term rating from AA- to AA in October 2015
– 13 awards received in Q2 FY16
Commenting on the financial performance of Q2 FY2016, *Mr. Pirojsha Godrej, Managing Director & CEO Godrej Properties Limited*, said: “I am happy to note that this has been the best ever quarter for GPL on every relevant parameter. We registered our highest ever quarterly sales, revenues, EBITDA, net profit and cash flows. We look forward to building on this momentum in the year ahead.”
*Financial Overview (Consolidated)*
Q2 FY2016 performance overview compared with Q2 FY2015
– Total income increased by 383% to INR 1,481 crore compared to INR 307 crore
– EBITDA increased by 170% to INR 188 crore from INR 70 crore
– Net profit increased by 128% to INR 106 crore from INR 47 crore
– EPS* amounted to INR 5.32 as compared to INR 2.34
H1 FY2016 performance overview compared with H1 FY2015
– Total income increased by 160% to INR 1,745 crore compared to INR 670 crore
– EBITDA increased by 85% to INR 269 crore from INR 145 crore
– Net profit increased by 75% to INR 161 crore from INR 92 crore
– EPS* amounted to INR 8.08 as compared to INR 4.63
*Not annualised