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Results
03-Aug-22
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Analysis
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Godrej Properties
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Net up 167% largely on higher sales
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Consolidated net sales (including other operating income) of Godrej Properties for the quarter ended Jun 2022 has increased 183.97% to Rs 244.67 crore. Operating profit margin has jumped from negative 73.73% to negative 5.80%, leading to 77.66% rise in operating profit to Rs -14.19 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 76.87% to 87.83%. Employee cost decreased from 16.31% to 3.11%. Other expenses fell from 37.44% to 10.34%. Other income rose 3.36% to Rs 181.73 crore. PBIDT rose 49.19% to Rs 167.54 crore. Provision for interest fell 17.33% to Rs 34.48 crore. PBDT rose 88.50% to Rs 133.06 crore. Provision for depreciation rose 7.68% to Rs 5.47 crore. Profit before tax grew 94.76% to Rs 127.59 crore. Share of profit/loss was 72.88% lower at Rs -51.64 crore. Provision for tax was expense of Rs 32.65 crore, compared to Rs 18.61 crore. Effective tax rate was 42.99% compared to 52.22%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 167.47% to Rs 45.55 crore. Management Comments : Commenting on the performance of Q1 FY2023, Mr. Pirojsha Godrej, Executive
Chairman, Godrej Properties Limited, said:
“Having delivered our highest ever Q1 bookings of 2,520 crore, we are on track to meet our
FY 23 objective of achieving 10,000 crore booking value. Despite elevated inflation and recent
interest rate hikes, the real estate sector has been exceptionally resilient. The sector is likely
to continue to strengthen in the quarters ahead and we will be focused on significant market
share gains through new project acquisitions and launches. We have a robust launch pipeline
for rest of the year which will help us build on the current momentum.”
Promoters’ stake was 58.43% as of 30 June 2022 ,compared to 58.43% as of 30 June 2021 . | Godrej Properties : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 244.67 | 86.16 | 183.97 | 1,824.88 | 764.92 | 138.57 | | OPM (%) | -5.80 | -73.73 | 6,794 bps | 7.30 | -43.58 | 5,088 bps | | OP | -14.19 | -63.53 | 77.66 | 133.16 | -333.36 | LP | | Other Inc. | 181.73 | 175.83 | 3.36 | 760.81 | 568.17 | 33.91 | | PBIDT | 167.54 | 112.30 | 49.19 | 893.97 | 234.81 | 280.72 | | Interest | 34.48 | 41.71 | -17.33 | 167.48 | 184.86 | -9.40 | | PBDT | 133.06 | 70.59 | 88.50 | 726.49 | 49.95 | 1,354.43 | | Depreciation | 5.47 | 5.08 | 7.68 | 21.43 | 19.54 | 9.67 | | PBT | 127.59 | 65.51 | 94.76 | 705.06 | 30.41 | 2,218.51 | | Share of Profit/(Loss) from Associates | -51.64 | -29.87 | -72.88 | -188.73 | -116.07 | -62.60 | | PBT before EO | 75.95 | 35.64 | 113.10 | 516.33 | -85.66 | LP | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 75.95 | 35.64 | 113.10 | 516.33 | -85.66 | LP | | Taxation | 32.65 | 18.61 | 75.44 | 165.78 | 103.64 | 59.96 | | PAT | 43.3 | 17.03 | 154.26 | 350.55 | -189.3 | LP | | Minority Interest (MI) | -2.25 | 0 | - | -1.82 | 0 | - | | Net profit | 45.55 | 17.03 | 167.47 | 352.37 | -189.3 | LP | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 45.55 | 17.03 | 167.47 | 352.37 | -189.3 | LP | | EPS (Rs)* | 1.64 | 0.61 | 167.47 | 12.68 | -6.81 | LP | | | * EPS is on current equity of Rs 139.00 crore, Face value of Rs 5, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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Godrej Properties to hold AGM
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04-May-23
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Godrej Properties PAT soars to Rs 125 cr in Q1 FY24
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