Godrej Properties Q3 results: Net debt down 49% to Rs 3,848 crore

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Godrej Properties Q3 results: Net debt down 49% to Rs 3,848 crore - Business Standard

Quick Summary:

Godrej Properties Ltd has reduced its net debt by 49 per cent to Rs 3,848 crore during the latest quarter ended December on the back of strong internal cash flow and equity fund raising.

Pirojsha Godrej, Executive Chairperson of Godrej Properties, said, "We raised Rs 6,000 crore during the third quarter through Qualified Institutional Placement (QIP) route for growth capital".

Its net debt stood at Rs 7,572 crore as on September 30, 2024, according to the company's latest investors presentation.