Hot stock: This Godrej group stock reports stellar Q1FY24 results; know more here!
The stock has witnessed significant buying activity as it has surged more than 65 per cent in the last 3 years.
On Friday, during the morning session the Sensex and Nifty recorded gains of 0.44 per cent and 0.5 per cent respectively. As the trading day concluded, the Sensex and Nifty maintained their upward momentum, closing with higher values of 0.74 per cent and 0.7 per cent respectively.
On August 02, 2023, Godrej Properties Limited reported its Q1FY24 results, details as follows:
Financial Results (Q1 FY2024) - YoY Comparison:
During the first quarter of the fiscal year 2023-24 (Q1 FY24), notable financial shifts were evident for the company. Total income reported a substantial rise, surging to Rs 1,315 Crores, marking a significant 251 per cent increase compared to the same period in the previous fiscal year. This dynamic performance was underscored by a remarkable growth in profit before tax, which escalated by 140 per cent to reach Rs 317 Crores.
Net profit followed suit, exhibiting an impressive surge of 98 per cent and reaching Rs 230 Crores. The operating profit displayed robust growth, reaching Rs 375 Crores, reflecting an increase of 154 per cent compared to the previous quarter.
These figures collectively illuminate a promising financial trajectory for the company in the first quarter of FY24, reflecting a robust foundation for future growth and a positive outlook for continued success. The company's ability to adapt, innovate, and capitalize on opportunities positions it favorably in navigating the dynamic and evolving business landscape.
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Godrej Properties Limited serves as the real estate development division of the esteemed Godrej Group, a conglomerate that originated in 1897 and has since grown into one of India’s most accomplished business entities. Guided by a rich legacy of success, Godrej Properties extends the core values of innovation, sustainability, and excellence that define the Godrej Group into the realm of real estate.
Over the past five years, the company has achieved an impressive CAGR of 90.1 per cent in terms of profit growth. Furthermore, the stock has witnessed significant buying activity as it has surged more than 65 per cent in the last 3 years.
Today, the shares of Godrej Properties Limited plunged by 2.31 per cent. The company's current market capitalization is Rs 42,724.73 crore.
Keep close eye on this trending stock.
Disclaimer: The article is for informational purposes only and not investment advice.