(MENAFN- IANS) Mumbai, Nov 6 (IANS) Godrej Properties Limited's consolidated profit after tax (PAT) for the second quarter of the current financial year (Q2 FY26) dropped 32 per cent sequentially to Rs 402.99 crore as compared to Rs 598.40 crore in the previous quarter (Q1 FY26), according to an exchange filing on Thursday.

The real estate firm's revenue from operations for the quarter under review rose 70 per cent quarter-on-quarter (QoQ) to Rs 740.38 crore from Rs 434.56 crore in the April-June period (Q1 FY26).

In contrast, revenue from operations declined nearly 32 per cent year-on-year (YoY) from Rs 1,093.23 crore while PAT jumped nearly 21 per cent from Rs 333.79 crore in the same period a year ago (Q2 FY25).

“Receiving RERA approval for our Worli project marks an important step forward in our development timeline. The location offers a rare combination of scale, connectivity, and visibility," said Gaurav Pandey, MD & CEO, Godrej Properties," said Gaurav Pandey, MD and CEO, Godrej Properties.

This project further strengthens GPL's presence in South Mumbai and aligns with our strategy of acquiring and developing high-potential urban land parcels. We will aim to deliver a landmark development that offers its residents an outstanding quality of life, he added.

The company informed that it has received the project registration certificate from the Maharashtra Real Estate Regulatory Authority (MahaRERA) for its upcoming residential development, Godrej Trilogy, located in Worli, Mumbai.

"This is part of a joint development to redevelop a prime land parcel in one of the city's most coveted neighbourhoods. The development will comprise three towers to be developed on a ~2.63-acre plot. The gross estimated revenue potential of the total project is over Rs 10,000 crore," the company said in its exchange filing.

Following the development, the shares of Godrej Properties fell over 3 per cent in intra-day trade to hit an intraday low at Rs 2,186.60. At around 3:36 pm, the stock was trading at Rs 2,226.10, down 2.93 per cent.

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