NEW DELHI: Realty firm Godrej Properties Tuesday reported nearly four-fold jump in its consolidated net profit to ₹156.66 crore for the fourth quarter of last fiscal on higher sales.
The company had posted a net profit of ₹42.28 crore in the year-ago period, the Mumbai-based developer said in a regulatory filing.
Total income more than doubled to ₹1,203.21 crore during January-March quarter of 2018-19 from ₹533.09 crore in the corresponding period previous year.
During the full 2018-19, Godrej Properties reported nearly three times jump in its net profit to ₹253.15 crore as against ₹86.91 crore in the preceding year.
Total income rose to ₹3,221.98 crore in the last fiscal from ₹2,102.36 crore in the 2017-18 fiscal.
The board, in its meeting held Tuesday, have approved raising of funds up to ₹2,500 crore through issue of equity shares, preference shares, debentures and qualified institutions placement (QIP).
"We have posted our best ever quarterly performance in terms of the value and volume of real estate sold. This has also been the best ever quarter for business development in the history of company. We expect to further scale our business development and sales momentum in FY20, given our exciting launch pipeline across the country," said Pirojsha Godrej, Executive Chairman, Godrej Properties.
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