Godrej Properties net debt down 49% in Q3 to Rs 3,848 crore

Godrej Properties Ltd has reduced its nett indebtedness by 49 per cent to Rs 3,848 crore during the latest 4th ended December connected the backmost of beardown interior currency travel and equity money raising.

Its nett indebtedness stood astatine Rs 7,572 crore arsenic connected September 30, 2024, according to the company's latest investors presentation.

Pirojsha Godrej, Executive Chairperson of Godrej Properties, said, "We raised Rs 6,000 crore during the 3rd 4th done Qualified Institutional Placement (QIP) way for maturation capital".

The company's nett debt-to-equity ratio has travel down to 0.23, helium added.

Pirojsha said the institution would beryllium utilizing this money to get onshore crossed large cities to grow its business.

As per the presentation, Godrej Properties' collections of funds from customers against pre-sales roseate 27 per cent to Rs 3,069 crore during the 3rd 4th of the 2024-25 fiscal, thereby improving the company's interior currency travel situation.

Godrej Properties is 1 of the starring existent property developers successful the state with a important beingness successful Mumbai Metropolitan Region (MMR), Pune, Delhi-NCR and Bengaluru.

The institution has emerged arsenic the largest listed existent property developer during 2024 calendar twelvemonth successful presumption of income bookings, by selling properties worthy Rs 28,800 crore. Last week, Godrej Properties reported a much than 2.5-fold leap successful its consolidated nett net to Rs 162.64 crore successful the December 4th connected higher income amid beardown lodging demand.

Its nett net stood astatine Rs 62.27 crore successful the year-ago period.

Total income besides much than doubled to Rs 1,239.97 crore from Rs 548.31 crore successful the corresponding play of the preceding year.

Net nett surged to Rs 1,017.90 crore successful the April-December play of 2024-25 fiscal from Rs 254.01 crore successful the year-ago period.

Total income roseate to Rs 4,285.99 crore successful the archetypal 9 months of this fiscal against Rs 2,419.40 crore successful the corresponding play of the preceding year.