Godrej Properties' net profit up 44.54% in Q3 FY23

06 Feb 2023 CW Team

In the three months that concluded on December 31, 2022, Godrej Properties (GPL) said its net consolidated profit increased by 44.54 percent. The company said in a BSE filing that its profit after tax (PAT) increased to 564 million in Q3 FY23 from 390.2 million in the same period of the previous year.

In Q3 FY23, the company's net consolidated income was 4045.8 million, down 13.35 percent from the 4669.1 million it reported in the same quarter the previous year.

Executive Chairman of the Company, Pirojsha Godrej, remarked, "The best quarter ever for sales bookings and business development were two of the third quarter's highlights for GPL. This puts us in a good position to exceed our FY23 bookings target of $100,000,000,000 and to rapidly expand on this base in the coming years.

According to the Employee Stock Grant Scheme, the corporation granted 30,869 additional shares of stock to qualified employees during the nine months that concluded on December 31, 2022. (ESGS). Additionally, the business reported in the regulatory filing that during the nine months that ended December 31, 2022, it allotted 32,897 equity shares following the exercise of stock grants made under the employee stock grant programme.

According to a press release from the company, its booking value increased by 111% to 32,520 million, and its 9-month FY23 bookings increased by 77% year over year to 81,810 million.

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