Key Points
BENGALURU, Nov 2 (Reuters) - Indian real estate developer Godrej Properties (GODR.NS) on Thursday reported a 21.5% rise in second-quarter profit, helped by a rise in demand for housing projects...
Consolidated net profit of the Godrej Group-owned firm rose to 668 million rupees ($8.02 million) from to 549.6 million rupees a year ago...
Revenue from operations more than doubled to 3.43 billion rupees...
Analysts said that real estate companies have been seeing improved demand in urban areas, with income levels improving post the pandemic, despite rising costs and high borrowing rates...
Rivals DLF (DLF.NS) and Oberoi Realty (OEBO.NS) also posted a rise in second-quarter profit on improved demand, while Sobha (SOBH.NS) is yet to report...
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