GODREJ PROPERTIES LIMITED Q3 & 9M FY2013 RESULTS
Consolidated 9M FY2013 Total Income stood at INR 733.7 crore. Net Profit stood at INR 85.2 crore in 9M FY2013. Consolidated Q3 FY2013 Total Income stood at INR 267.8 crore. Net Profit stood at INR 35.5 crore in Q3 FY2013
New Delhi, January 30 2013: Godrej Properties Limited (GPL), a leading national real estate developer, today announced its financial results for the quarter and nine months ended December 31, 2012.
CORPORATE HIGHLIGHTS:
Business Development Highlights
New deal flow momentum remains healthy with five new projects with 4.3 mn sq.ft. saleable area added to the portfolio in FY2013 YTD
· Curry Road Redevelopment, Mumbai
o We executed a Development Management Agreement for a project with 0.12 mn sq.ft. saleable area at Curry Road, Mumbai
o GPL will receive 10% of revenue as development management fees
o This is the 4th consecutive quarter in which GPL has added a new redevelopment project
Sales Highlights
Demonstrated strong momentum in ongoing sales
- Q3 FY2013 witnessed total booking value of INR 672 crore and total booking volume of 1.04 mn sq. ft. as compared to total booking value of INR 364 crore and total booking volume of in 0.57 mn sq. ft. in Q3 FY2012
- Residential projects recorded booking value of INR 550 crore and booking volume of 0.94 mn sq. ft in Q3 FY2013 . Commercial projects witnessed booking value of INR 122 crore and booking area of 0.10 mn sq. ft in Q3 FY2013
Construction Highlights
· Completion certificate received for Godrej Prakriti Phase I
Awards & Recognitions
GPL received six awards in Q3 FY 13
· Platinum Award for Excellence – GPL received this award from Construction World for being selected as one of only 5 developers in India who have featured in each of the six years of their annual list of the country’s top 10 builders
· Brand Excellence Award – GPL won the award in the real estate category at the Zee Business Awards
· 3 awards at CNBC Awaaz Real Estate Awards, 2012
o Godrej Garden City : ‘Best Residential Project’ in Ahmedabad, in the mid-segment category of projects that are 70% complete
o Godrej Prakriti : ‘Best Residential Project’ in Kolkata, in the mid-segment category of projects that are 70% complete
o Godrej Waterside : ‘Best Commercial Property’ in Kolkata
· Best Upcoming Township – Godrej Anandam, Nagpur received this award from My FM, Dainik Bhaskar and CREDAI Nagpur
Commenting on the financial performance in Q3 & 9M FY2013, Mr. Pirojsha Godrej, Managing Director & CEO Godrej Properties Limited, said:
“Godrej Properties continues to see strong momentum in launches, bookings and new business. We have also sustained new sales momentum by delivering four successful launches across the key markets of Mumbai, NCR and Bengaluru during Q3 FY2013 . Our presence in the Mumbai redevelopment space was further strengthened with the addition of Curry Road project in this quarter.
We are strategically developing our presence in crucial markets and adding value accretive transactions to our portfolio which, clubbed with our unmatched brand equity, differentiated business model and strong execution capabilities, will drive our future growth.”
Financial Overview (Consolidated)
9M FY2013 performance overview (Compared with 9M FY2012)
· Total income increased to INR 733.7 crore as compared to INR 446.6 crore
· EBITDA was INR 195.8 crore as compared to INR 105.7 crore
· Net profit stood at INR 85.2 crore as compared to INR 58.1 crore
Q3 FY2013 performance overview (Compared with Q3 FY2012)
· Total income increased to INR 267.8 crore as compared to INR 169.9 crore
· EBITDA was INR 76.5 crore as compared to INR 46.8 crore
· Net profit stood at INR 35.5 crore as compared to INR 28.6 crore
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