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Godrej Properties share price rises 10% on Q3 earnings

Following the earnings announcement, share price of Godrej Properties rose 9.75% to the intraday high of Rs 1,085 on BSE, as against the previous close of Rs 989.25.

twitter-logo BusinessToday.In        Last Updated: February 3, 2020  | 15:36 IST
Godrej Properties share price rises 10% on Q3 earnings
Godrej Properties share price has outperformed realty sector by 7.98% today.

Share price of realty firm Godrej Properties rose on Monday after the firm reported a 9.2% increase in its consolidated net profit to Rs 45.49 crore for the quarter ended December 31, 2019 against Rs 41.63 crore in the year-ago period.

Following the earnings announcement, share price of Godrej Properties rose 9.75% to the intraday high of Rs 1,085 on BSE, as against the previous close of Rs 989.25. Godrej Properties share price has outperformed realty sector by 7.98% today.

Godrej Properties share price currently trades higher than 20, 50, 100 and 200-day moving averages but lower than 5-day moving averages. Godrej Properties stock trades mere 4.28% away from 52-week high of Rs 1,118. The stock has gained after 2 days of consecutive fall. The share price has risen 1% in one week, 10.88% in one month and 43% in a year.

Volume-wise, 0.47 lakh and 8.64 lakh share changed hands on BSE and NSE counters today, both above 5, 10 and 30-day volume average. Market depth data on BSE suggested 59% buyers bidding against 41% sellers offering the stock.

Company's consolidated income during the October-December quarter rose 20% to Rs 517.47 crore, over Rs 430.70 crore in the year-ago period.

Consolidated earnings before interest, tax, depreciation and amortisation (EBITDA), jumped 60% to Rs 151 crore from Rs 94 crore in the previous year quarter. EBITDA margin grew 30.7% in Q3FY20 from 19.9% in Q3FY19.

The company added four new projects with a saleable area of around 12.7 million square feet in the October-December quarter.

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