Realty firm Godrej Properties has reported an impressive surge in its consolidated net profit, soaring over fourfold to Rs 520.05 crore in Q1 of the current fiscal year, propelled by a nearly fourfold increase in sales bookings to Rs 8,637 crore amid robust housing demand. This marks a substantial leap from the Rs 124.94 crore profit recorded in the same period last year.

The company's total income escalated to Rs 1,699.48 crore from Rs 1,265.98 crore year-on-year, while total expenses decreased to Rs 921.45 crore from Rs 1,121.89 crore.

Operationally, Godrej Properties achieved its highest-ever quarterly sales for the June quarter and its second-highest quarterly sales overall, driven by a significant rise in sales bookings compared to the previous year's Rs 2,254 crore.

Executive Chairperson Pirojsha Godrej highlighted the company's robust performance, noting substantial growth in bookings, operating cashflows, and earnings. He emphasized the strength of the Indian residential real estate sector over the past three years and expressed confidence in sustained sectoral growth in the coming years.

Pirojsha also reiterated the company's commitment to reaching its sales bookings target of Rs 27,000 crore for the current fiscal year, attributing this ambition to strategic business developments, a solid launch pipeline, a strong balance sheet, and resilient demand. He projected achieving record-high deliveries and collections performance alongside meeting the sales target.