After reporting 58.82 percent jump in consolidated profit after tax (PAT) at Rs 189.54 crore for the second quarter ended September 30, helped by lower current tax expense, Godrej Industries on Tuesday said it expects rural demand to revive on good monsoon and agricultural output.

In an interview to Adi Godrej, chairman, said the Indian economy is doing well and all Godrej companies are doing well and expects earnings to do well going forward.

Godrej said rural growth has outpaced urban growth for Godrej Consumers business, "Moreover, rural base is smaller, so growth rates can be higher."

"The growth has been reasonable and most of the sales growth has come due to volume growth and not price hikes," he said, adding that higher crude oil prices had impacted input costs negatively.

"The demand in real estate space is expected to be robust going forward, especially for reliable developers," said Godrej, adding that there is lot of demand for genuine reasonably priced housing.

"Historically, election years have been good for the company. So expect the same in 2019 as well," Godrej added.