Godrej Properties (GPL) registered a 33.65% fall in net profit for the three month period ended March 31, 2012, at Rs 39.8 crore.
The company posted a net profit of Rs 59.99 crore during the same period of the last fiscal.
Company's total income rose 11.28% to Rs. 373.18 crore as against Rs 333.53 crore, the company said.
Godrej Group Chairman Adi Godrej stated, "The margins have been under pressure mainly because of the increase in input as well as labour costs. However, we have been able to achieve healthy sales growth despite challenging economic conditions. We expect to deliver strong growth in 2012-13."
For the full fiscal, Godrej Properties (GPL) recorded a drop of 25.16% in the net profit, which stood at Rs 97.93 crore from Rs 130.86 crore last financial.
Its overall income for the year grew by 46.68% to Rs 819.81 crore from Rs 558.91 crore in FY11.
During the quarter, the company also inked tripartite deal for the project where it will be entitled to 87.5% revenues.
GPL also signed a private equity contract with ASK Group by reducing 49% equity stake in the subsidiary formulating this redevelopment project.
The Mumbai-based firm saw highest transaction flow on a twelve-monthly basis with 10 combined development deals of 10.5 million sq ft saleable area crosswise six cities.
"These new business development transactions have significantly expanded our portfolio and will enable us to deliver higher profitability over the years," Godrej said.
For the year, the company's overall booking value remained at Rs 1,563 crore.