Godrej Properties, the real estate arm of Godrej Group, on Saturday recorded a 70.64% growth in consolidated net profit at Rs 17.15 crore for the quarter that ended June 30, on the back of improved sales.
The company had registered net profit of Rs 10.05 crore in the corresponding period last year in 2011.
Its total income for the quarter grew by 72.82% to Rs 232.8 crore compared to Rs 134.7 crore in the year-ago period.
"Despite challenging situation, we have been able to achieve healthy growth. I am sure this business will leverage the strong opportunities in India in a decade or two," company's chairman Adi Godrej told reporters in Mumbai.
During the quarter, the company launched two projects Godrej Serenity, a premium residential project in Mumbai and phase-I of Godrej Horizon in Pune.
The first quarter witnessed a total booking of 8.3 lakh sq ft as compared to 5.9 lakh sq ft in the same period last year in 2011.
The total booking value during the period grew to Rs 525.2 crore as against Rs 240.8 crore in the year-ago period.