ANI
03 May 2021, 18:49 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)Get a daily dose of Asia Pacific Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Pacific Star.
More InformationBEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
BANGKOK, Thailand: This week, Thailand implemented land border restrictions, including a ban on tourists traveling to Cambodia, as...
Aluminum, copper and nickel shipments have surged this year, according to trade data Beijing has increased purchases of Russian metals...
New Delhi [India], July 1 (ANI): The Ministry of External Affairs on Tuesday announced the appointment of Jayant Khobragade of the...
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...