Godrej Properties have debt equity ratio of 0.5: 1

Godrej PropertiesAchieves Significant Debt Reduction

Dubai skyline, Emirates

Comfortable Balance Sheet

Adi Godrej, Group Chairman of Godrej Properties, revealed on Monday that the company's net debt had decreased substantially to Rs. 4 billion as of June 30. This reduction is a notable achievement, indicating a comfortable balance sheet with a debt equity ratio of 0.5:1.

Historical Context

  • FY 2009 End: Godrej Properties had a net debt of Rs. 4.50 billion, as disclosed by Managing Director Milind Korde.
  • December's Milestone: The company successfully raised approximately $100 million through its Initial Public Offering (IPO), a significant step in its growth strategy.

Market Performance

  • The company's shares closed at Rs 690.40 per share, reflecting a 1.69% decline.
  • This adjustment is a minor fluctuation in the context of the company's overall financial health and strategic advancements.