Godrej Properties has recorded a growth of 75.48 per cent in its net consolidated profit during the quarter ended March 31, 2023. Its profit after tax stood at Rs 453.87 crore in Q4 FY23 as against Rs 258.65 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 1,838.82 crore in Q4 FY23, a growth of 20.77 per cent from Rs 1,522.57 crore it recorded in the similar quarter last year.
During the year ended March 31, 2023, the company has granted 34,934 new stock to eligible employees under the Employee Stock Grant Scheme (ESGS). Further, during the year ended March 31, 2023, the Company has allotted 33,377 equity shares upon exercise of stock grants under the Employee Stock Grant Scheme.
As on March 31, 2023, the company’s net worth stood at Rs 9,264.20 crore, net debt was Rs 3,649 crore, debt-equity ratio (gross) was 0.69, total debts to total assets was 0.28, operating margin was 27.02% and net profit margin was 23.52%, it said in the regulatory filing.
During the financial year 2022-23, the company added 18 new residential projects (7 in MMR, 5 in NCR, 2 each in Bengaluru and Pune, and 1 each in Nagpur and Chennai) with a saleable area of ~29 million sq. ft. and with an estimated booking value of Rs 32,000 crore. It also leased over ~1.5 lakh sq. ft. at Godrej Two in FY23 at a weighted average monthly rent of over Rs 165 per sq. ft. of leasable area. Total booking value in FY23 grew by 56% year-on-year to Rs 12,232 crore.
