Godrej Properties? September quarter net profit was down at Rs 32 crore versus Rs 44.6 crore. However, its net sales were up at Rs 20.1 crore versus Rs 5.4 crore.
The company has said that revenue growth has been strong in the first half and the momentum is likely to continue in the remaining part of the year.
Godrej Properties is expecting to see strong demand for residential properties. Saying that that it will announce new projects in Q3FY10, the company informed that it is finalising two redevelopment projects in Mumbai.
It is likely to raise funds in 18-24 months via Qualified Institutional Placement (QIP) route.
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