Godrej Properties on Tuesday announced a consolidated net profit of Rs 260.47 crore for the quarter ending March 2022, owing to greater revenue, as per PTI reported. The previous closing of this stock on NSE is Rs 1,573.45. 

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In the previous fiscal year, the company recorded a net loss of Rs 191.57 crore.

According to a regulatory filing, total revenues grew to Rs 1,522.57 crore in the January-March quarter of the previous fiscal year, up from Rs 576.08 crore the year before, said PTI.

Godrej Properties, situated in Mumbai, made a net profit of Rs 352.37 crore in the fiscal year 2021-22, compared to a net loss of Rs 189.30 crore the previous year.

According to PTI, in the previous fiscal year, total income climbed to Rs 2,585.69 crore, up from Rs 1,333.09 crore in 2020-21.

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

Godrej Properties, the real estate branch of the Godrej Group, is one of the country's most well-known developers. It has a substantial presence in the Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, and Bengaluru property markets.

(With inputs from PTI)