InvestorQ : Why did Godrej Properties report a loss in the Jun-20 quarter?
shrinidhi Rajan made post

Why did Godrej Properties report a loss in the Jun-20 quarter?

Answer
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rhea Babu answered.
1 month ago


Godrej Properties reported net loss of Rs.20.23 crore for the Jun-20 quarter as against net profits of Rs.90 crore in the Jun-19 quarter. The lockdown effect was felt in the top line as sales dipped over 70% to Rs.196 crore in the Jun-20 quarter. For the quarter, its total value was Rs.1531 crore while booking volumes stood at 2.51 million SFT.

Customer collections, normally based on milestones, got impacted as most construction activity came to a standstill. This resulted in negative operating cash flows in the quarter. However, the company management has assured that construction activity was picking up at most sites. That could be the good news.