Godrej Properties posts Rs 192 crore loss in Q4

ANI
03 May 2021, 23:19 GMT+10

Mumbai (Maharashtra) [India], May 3 (ANI): Godrej Properties said on Monday its loss totalled Rs 192 crore in Q4 FY21 due to weak home sales as compared a profit of Rs 102 crore in the same period of previous fiscal.

Total income fell by 60 per cent to Rs 508 crore as against Rs 1,261 crore in the same period. Earnings before interest, tax, depreciation and amortisation (EBITDA) cracked by 131 per cent to negative Rs 79 crore from positive Rs 253 crore.

However, the company recorded highest-ever quarterly collection of Rs 2,041 crore, leading to a net operating cash flow of Rs 785 crore in Q4 FY21.

Godrej Properties raised Rs 3,750 crore through the qualified institutional placement (QIP) route in the quarter ended March to tide over liquidity challenges posed by the onset of COVID-19 pandemic.

Executive Chairman Pirojsha Godrej said while the real estate sector like all parts of the economy has been impacted by the second wave, the company expects the sector will continue the robust recovery it was witnessing once this crisis abates.

"Given our robust launch pipeline, strong balance sheet and interesting new project acquisition opportunities, we expect a strong FY22," he said in a statement. (ANI)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Jamaican Times.

More Information

27 ℃

Mostly Cloudy in Kingston

Business

Section

Wall Street opens new week with moderate losses

NEW YORK, New York - U.S. stocks were on the defensive on Monday following the release of disappointing economic data.The ...

U.S. inspecting wire failure on Boeing 737 following Indonesian crash

WASHINGTON D.C.: Operators of Boeing 737 Classic aircraft have been ordered to check for possible wire failures, following an investigation ...

Airbnb up 52% as travel begins to recover

SAN FRANCISCO, California: As more people become vaccinated against COVID-19 and restrictions are eased, Airbnb's gross bookings have jumped 52 ...

Nikkei 225 drops 260 points, other Asian markets drift higher

SYDNEY, NSW, Australia - Stocks in Asia were mixed on Monday with major falls in Japan, and most moves upwards ...

Streaming Disney audience falls, disappointing Wall Street

BURBANK, California: Disney Company's streaming platform failed to register expected growth on May 13, eclipsing higher-than-anticipated gross earnings, witnessing a ...

With 10,000 vacancies, McDonalds boosts pay for food workers

CHICAGO, Illinois: McDonald's Corporation announced on May 12 that it would increase the average hourly pay at its 660 corporate-owned ...

International

Section