NEW DELHI: Godrej Properties has entered into an agreement to redevelop a land parcel in Wadala, Mumbai. Spread across 7.5 acres, this project will offer about 1.6 million sq ft of saleable area comprising of residential apartments, the company said in a BSE filing.

The company had recently sold homes worth Rs 575 crore in second phase of its project Godrej Woods in Noida.

It had reported a consolidated net profit of Rs 17.01 crore for the first quarter of the financial year 2021-22 as against a net loss of Rs 19.26 crore in the corresponding quarter previous year.

The company’s total consolidated income rose to Rs 261.99 crore in Q1 FY22, from Rs 195.66 crore in the similar period of the last year.

The Mumbai bench of NCLT on July 29, 2021 approved the merger of Godrej Landmark Redevelopers with Godrej Projects Development (wholly-owned subsidiary of Godrej Properties), however, the company has not received the final order till date, it had said in the regulatory filing.

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