Godrej Properties reported a 20% increase in net debt to Rs 7,432 crore for the June quarter, up from Rs 6,198 crore in March 2024. This rise is attributed to higher capital spending on land and construction. Despite the increased debt, the debt-equity ratio improved to 0.71:1 from 0.62:1. The company saw a significant boost in net profit, up more than four-fold to Rs 520.05 crore, and a rise in total income to Rs 1,699.48 crore. Sales bookings surged nearly four-fold to Rs 8,637 crore, marking its highest quarterly sales for June. The increased debt is offset by strong operational performance and sales growth, suggesting robust financial health and growth prospects.
