Godrej Properties Posts 70 Percent Rise in Q4 Profit
The Indian developer reported a net profit of 6.5 billion rupees as revenue climbed 63 percent. High residential demand and land acquisitions drove the growth.
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GODREJ PROPERTIES LTD, one of India's largest listed residential developers by sales, grew fourth-quarter net profit 70% to 6.5 billion rupees ($68.46 million) as residential demand remained high. Revenue rose 63% to 34.58 billion rupees for the quarter ended March 31, up from approximately 21.23 billion rupees a year earlier. Investors are tracking Godrej Properties' ability to convert land acquisitions into pricing gains amid rising sector-wide competition.
