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Lennar quarterly profit rises over 4% on strong demand for homes

Sept 21 (Reuters) - Homebuilder Lennar Corp on Wednesday reported a 4.3% rise in quarterly profit, benefiting from record-high property prices as demand far outpaced supply that was crippled by raw material and labor shortages.

The company reported a net income of $1.47 billion, or $5.03 per share, in the third quarter ended Aug. 31, compared with $1.41 billion, or $4.52 per share, a year earlier. (Reporting by Nathan Gomes and Priyamvada C in Bengaluru; Editing by Shinjini Ganguli)