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The net profit of Godrej Properties, on a standalone basis, more than doubled to Rs 27 crore for the quarter ended December 31, 2011, compared to Rs 13 crore logged in the corresponding period last year. Total income rose to Rs 143 crore (Rs 60 crore).
Mr Adi Godrej, Chairman, Godrej Properties, said: “The agreement with Godrej & Boyce in Q3 FY12 for all future development on the Vikhroli land parcel is a high-value accretive deal which will provide significant risk-free cash-flow for Godrej Properties.”
The company scrip on BSE was marginally up at Rs 651.35 at close on Thursday.
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