Godrej Properties hits new high

Goderj Properties hit a new high today at Rs.288 with volumes rising over 2 times. The stock continues to remain firmly in the green, at Rs.278-79 levels.

Godrej Properties posted a good set of numbers for Q3FY15, purely driven by operational efficiency. The Mumbai based property company, posted a 26% (YoY) rise in consolidated net profit at Rs.47 crore, driven largely by a strong revenue growth. Income from operations rose over two times to Rs.519 crore. The company achieved volume growth of 37% and in terms of value of sales bookings, it was up 28%.  During the quarter, the company during current Q3 saw a total booking value of Rs.548 crore while booking volume rose 37% at 7,01,729 sq ft.