Godrej Properties, based in Mumbai, has reduced its net debt by 24% to Rs 1,470 crore in the second quarter, leveraging funds from a rights issue.
Godrej Properties reported a 5% rise in net profit to ₹34.25 crore in Q2, primarily due to increased tax expenses, despite a 33% jump in total revenue.
Godrej Properties plans to raise ₹700 Cr through a rights issue to fund new and ongoing projects across key Indian cities. The company aims for growth despite previous market sluggishness.