ICICI Securities: Godrej Properties Q2 Review - All Eyes On Upcoming Launches 
A bird flies past the Planet Godrej residential building, developed by Godrej Properties Ltd., in the Byculla area of Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

ICICI Securities: Godrej Properties Q2 Review - All Eyes On Upcoming Launches 

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Along expected lines, Godrej Properties Ltd.’s Q2 FY21 gross sales bookings worth Rs 10.7 billion declined 26% YoY and 30% QoQ as the company phased out its 10-90 builder subvention scheme (80% of overall sales in Q1 FY21).

The company incurred Rs 7.0 billion of land spend in Q2 FY21 which led to net debt levels rising by Rs 9.8 billion QoQ to Rs 27.3 billion (net debt/equity of 0.57 times).

Click on the attachment to read the full report:

ICICI Securities Godrej_Properties Q2FY21 Result Update.pdf

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