The Hindu A view of a multi-storeyed building developed by Godrej Properties in Bangalore. File photo
Realty firm Godrej Properties on Friday reported a 9 per cent fall in its consolidated net profit at Rs. 48.34 crore for the quarter ended March 31, 2014, due to higher expenditure.
The company had posted a net profit of Rs. 53.21 crore in the year-ago period, Godrej Properties, the real estate arm of the Godrej group, said in a filing to the BSE.
However, its total income from operations rose by 38 per cent to Rs. 429.19 crore during the January-March quarter as against Rs. 311.86 crore in the corresponding period of the previous year.
Total expenditure increased by 65 per cent to Rs. 354.97 crore during the fourth quarter from Rs. 214.61 crore in the year-ago period.
For the entire 2013-14 fiscal, Godrej Properties net profit rose by 15 per cent to Rs. 159.43 crore from Rs. 138.43 crore in the previous fiscal.
Total income from operations increased by 14 per cent to Rs. 1,179.21 crore in the 2013-14 fiscal from Rs. 1,037.12 crore in the previous year.
Mumbai-based Godrej Properties is developing housing, commercial and township projects in 12 cities with 100 million sq ft development potential, of which 20 million sq ft is under construction.
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