Godrej arm Q4 net down 65%

Godrej Properties has reported a 64.7% decline in net profit for the fourth quarter at Rs 18 crore against Rs 51 crore in the same quarter previous fiscal.

Total income for the Mumbai-based real estate developer declined 25.76% to Rs 533 crore compared with Rs 718 crore in the comparable period, the company said.

Q4 FY16 witnessed total booking value of Rs 616 crore and total booking volume of 711,962 sq feet, when compared with total booking value of Rs 428 crore and total booking volume of 692,049 sq feet in Q4FY15. During the quarter, the company delivered 1.3 million sq feet of residential space across four cities.

This included 0.64 million sq feet at Godrej Palm Grove, Chennai, 0.44 million sq feet at Godrej E-City, Bengaluru, 0.11 million sq feet at Godrej Garden City, Ahmedabad and 0.10 million sq feet at Godrej Horizon, Pune.