Godrej Group's real estate arm, Godrej Properties Ltd. has announced its first quarter financial results for the fiscal year 2010. As per the financial reports it has managed to post an impressive growth in the net profit.

The company has posted a net profit of Rs 22.4-crore for the quarter that ended in 30th June, 2010. This net profit figure has grown up by 653% in this quarter as compared to the same quarter in the last fiscal.

The consolidated sales of the company have touched Rs 73.46-crore during the April-June quarter of fiscal year 2010-11. It was Rs 18.8-crore for the same quarter in the preceding year. There has been a hike of a massive 290% in the consolidated sales of the firm in this quarter this year against same period in last year.

Godrej Group's Chairman, Adi Godrej has informed after this announcement that the main objective of the company is to become a real estate developer nation wide.

GPL is utilizing several unique business models so that it may help the company to come out as a market leader in its field.