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Key benchmark indices extended slide and hit fresh intraday low in afternoon trade as European stocks edged lower in early trade there. At 13:18 IST, the barometer index, the S&P BSE Sensex, was down 406.99 points or 1.28% at 31,388.47. The Nifty 50 index was down 112.60 points or 1.14% at 9,791.55. Bulk of todays steep market slide was triggered by an over 10% slump in shares of index heavyweight and IT major Infosys.
Adi Godrej, Chairman of the Godrej Group, is a proud Indian whose group has its roots in the country’s independence and Swadeshi Movement since its inception in 1897. From locks, soaps, property, retail and animal feed to the engines that power India’s space programmees, the $5-billion Group is now poised to leverage its future growth based on new reforms like GST. In a chat with BusinessLine, Adi Godrej shares his thoughts on the 70 years of independence and the future plans for his group.
Q1 saw a significant dip in profits for Godrej Industries. In an interview to CNBC-TV18, Adi Godrej, Chairman of Godrej Group spoke about the results of the group companies and his outlook for the same.
Mumbai: Godrej Industries Ltd (GIL) reported a 42% year-on-year (yoy) decline in net profit as a poor performance by Godrej Consumer Products Ltd (GCPL) and Godrej Properties Ltd dragged down the parent firm’s earnings for the quarter ended 30 June 2017.
Realty firm Godrej Properties' sales bookings jumped more than three-fold to Rs 1,474 crore while net debt reduced by Rs 400 crore in the first quarter of this fiscal.
Rating agency, ICRA credit rating assigned an AA long term rating to the non-convertible debentures of Godrej Properties.
Key benchmark indices languished in negative terrain in afternoon trade as private survey showed that Indias services activity slumped in July. At 13:24 IST, the barometer index, the S&P BSE Sensex, was down 166.52 points or 0.51% at 32,310.22. The Nifty 50 index declined 44.75 points or 0.44% at 10,036.75. Weakness in global stocks also weighed on sentiment.
Interest rate sensitive stocks — banking, realty and auto — continued to fall for the second straight session, losing up to 3 per cent, as the RBI policy action failed to enthuse investors.
Real estate firm Godrej Properties reported a 46 per cent decline in net profit to ₹23.37 crore for the quarter ended June, as against ₹43.47 crore in the same period a year-ago. Total income rose a marginal three per cent to ₹345 crore (₹333 crore). “Our total sales for Q1 stood at ₹1,474 crore which was our highest ever residential sales in a quarter. We also added four new projects to our portfolio and had one of our best ever quarters in terms of operating cash flow,” Pirojsha Godrej, Executive Chairman Godrej Properties Ltd, said.
Realty firm Godrej Properties today reported a 46 per cent decline in net profit to Rs 23.37 crore for the quarter ended June.
Mumbai: Real estate developer Godrej Properties Ltd (GPL) Wednesday posted a 46% decline in its June quarter consolidated net profit to Rs23.37 crore from a year ago due to higher finance costs and weak earnings.
Bata, Capital First, Emami, Godrej Properties, Greenply, Kaya, KEC International Mahindra Holidays, PNB, Reliance Infrastructure, UCO Bank, Voltas and Wockhardt are some of the prominent firms that will declare their April-June quarter results on Wednesday. Among the actively-tracked firms are Edelweiss Financial, Eimco, Entertainment Network, Max Ventures, Narayana Hrudalaya, TBZ, Transport Corporation, Solar Industries and VST Industries.
A rally led by strong liquidity inflows helped the Nifty finally scale the 10,000 mark and the Bank Nifty to touch 25,000. Domestic institutional investors have poured $7 billion into Indian equities this year while foreign institutional investors have pumped in $8.6 billion.
Stringent partnership rule under RERA is likely to disrupt development management (DM) strategy of real estate developers
Godrej Properties Limited (GPL), one of the India’s leading real estate developers, announced on Friday that Godrej Garden City (GGC), its township project in Ahmedabad, has received the Indian Green Building Council Green Residential Society (IGBC – GRS) Platinum Certification.
The real estate sector is in a slump after the combined effects of demonetisation, the new Real Estate Regulatory Authority (RERA) and goods and services tax (GST).
Mumbai : For next ten years, India would require USD half trillion to one trillion to support its climate change commitments. In order to support India’s financial requirement, International Finance Corporation (IFC), a member of Word Bank group has committed to invest around USD 5-6 billion for next five years.