New Delhi: The net profit of 4 out of the top 9 listed realty players dropped in the third quarter of the current fiscal as compared to the same quarter of the previous fiscal.
While Mahindra Lifespace Developers saw a dip in net profit as massive as 90 percent in the third quarter of the ongoing financial year, Puravankara Ltd also witnessed its net profit going down by as much as 40 percent. The net profit of Mahindra Lifespace Developers stood at Rs 1.99 crore in Q3 of financial year 2019-20 as compared to Rs 19.43 crore in Q3 of 2018-19. The net profit of Puravankara Ltd stood at Rs 16.10 crore in Q3 of financial year 2019-20 as compared to Rs 27.18 crore in Q3 of 2018-19.
Another Bengaluru-based realty firm Brigade Ltd saw its net profit drop 32 percent to 40.92 crore in Q3 of financial year 2019-20 as compared to Rs 59.79 crore in Q3 of 2018-19.
Pune-based Kolte Patil saw its net loss narrow down to 14.32 crore in Q3 of financial year 2019-20 as compared to net loss of Rs 21.68 crore in Q3 of 2018-19.
At the same time Sobha Ltd saw marginal increase in its net profit. The net profit of the company increased by 5 percent to Rs 73.2 crore in the third quarter of the ongoing financial year as compared to Rs 69.8 crore in the corresponding quarter of the previous financial year.
Oberoi Realty too saw its net profit going up only marginally. The net profit of the company went up by around 8 percent to Rs 148.24 crore for the third quarter of the ongoing financial year as compared to Rs 137.93 crore in the same quarter of the previous financial year.
Godrej Properties Ltd’s net profit also increased only in single digits. The company saw its net profit go up by 9.2 percent at Rs 45.5 crore in Q3 of financial year 2019-20 as compared to Rs 41.6 crore in in Q3 of 2018-19.
DLF Ltd’s net profit moved up in double digits at 24 percent. The company’s net profit stood at Rs Rs 414.01 crore for the third quarter of the ongoing financial year as compared to Rs 335.15 crore in the corresponding quarter of the previous financial year.
Prestige Estates Projects net profit, however, more than trebled. The net profit of the company zoomed to Rs 216.4 crore for the third quarter ended 31 December 2019 as against Rs 67.4 crore in the corresponding period of the previous financial year.