Godrej prop Q4 profit up 218%, to grow in 4 new cities | business | Hindustan Times
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Godrej prop Q4 profit up 218%, to grow in 4 new cities

business Updated: May 17, 2010 20:45 IST

Godrej Properties Ltd has reported a 218 per cent rise in net profit at Rs 57 crore for the fourth quarter ended March 31, 2010, as against Rs 18 crore in the same quarter of the previous fiscal. Total income of the company also rose 140 per cent to Rs 244 crore during the quarter, as against Rs 101 crore in the same period last year.

The company reported a 64 per cent growth in net profit for the financial year ended March 31, 2010 at Rs 123 crore as against Rs 75 crore in the previous year.

The board has recommended dividend of Rs 4 per equity share of Rs 10 each subject to shareholders approval.

“We have delivered a strong performance on all fronts. Our township project Godrej Garden City in Ahmedabad has received an overwhelming response and the first phase of 888 flats has been entirely booked in 10 days of its launch. We will be launching projects in four new cities this year and we are confident of attracting similar traction at all our projects,” said Adi Godrej, chairman, Godrej Properties.