Realty firm Godrej Properties Ltd on Monday (March 3) announced the cancellation of its land development agreement with TCM Limited (formerly known as Travancore Chemical & Manufacturing Co Ltd) for a Thrikkakara, Kochi project.

“The company had entered into an Agreement dated February 15, 2008, with TCM Limited (formerly known as Travancore Chemical & Manufacturing Co. Ltd.) for the development of a land parcel situated in Thrikkakara, Kochi. This is to inform you that the Company, on March 03, 2025, has cancelled the said Agreement dated February 15, 2008, entered with TCM Limited,” Godrej Properties said in a regulatory filing.

The agreement, originally signed on February 15, 2008, was officially terminated on March 3, 2025. The company stated that the cancellation will have no material impact on its financials, operations, or business activities. “There is no material impact of the cancellation of the above agreement on financials, operations or other activities of the company,” it added.

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The company reported a consolidated net profit of ₹162.6 crore for the December quarter, compared to ₹62.3 crore in the same quarter last year. Revenue for the quarter stood at ₹968.9 crore, up from ₹330.4 crore in the year-ago quarter.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter stood at ₹27.6 crore. The company reported an EBITDA loss of ₹41.5 crore in the same period a year ago. The company’s EBITDA margin stood at 2.9% in the quarter.

Godrej Properties is on track to surpass its bookings guidance of ₹27,000 core in FY25. The company achieved 71% of its annual guidance for booking value for FY25. The booking value for the quarter stood at ₹5,446 crore, a decline of 5% year-on-year and a growth of 5% quarter-on-quarter.

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Shares of Godrej Properties Ltd ended at ₹1,994.75, up by ₹58.55, or 3.02%, on the BSE.