Godrej Properties posts PAT of Rs 260 cr in Q4FY22

The city-based developer had reported a loss of Rs 192 crore in the corresponding period last fiscal.

Its total income for the quarter under review grew nearly two fold to Rs 1,476 crore as compared to Rs 508 crore in Q4 FY2021, the company said in a statement issued here.

For the year, the company reported a net profit Rs 352 crore as compared to a loss of Rs 189 crore in FY2021.

Its total Income grew by 97 per cent to Rs 2,397 crore as compared to Rs 1,217 crore in the previous year.

"The real estate sector has strengthened during FY22 and we expect strong growth for the sector over the next few years. We are pleased to close the financial year with our best ever annual sales, cash collections, and earnings," Pirojsha Godrej, Executive Chairman, Godrej Properties said.

During the quarter, the company witnessed total booking value growth of 23 per cent year-on-year to Rs 3,248 crore with 4.24 million sqft of area sold between January-March period.

The company said it recorded highest ever quarterly collection of Rs 2,678 crore leading to net operating cash flow of Rs 1,045 crore in Q4 FY22 and it delivered 5.8 million sqft across five cities.

Its FY22 booking value grew by 17 per cent to Rs 7,861 crore through total sales of 10.84 million sqft.

During the quarter, the company added three new projects with saleable area of 6.1 million sqft.

"With a robust launch pipeline, strong balance sheet and sectoral tailwinds, we look forward to building on this momentum in FY23," Godrej added.