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Godrej Properties firms up on plan of selling commercial assets worth Rs 2000 crore

11 May 2015 Evaluate

Godrej Properties is currently trading at Rs. 247.50, up by 3.35 points or 1.37% from its previous closing of Rs. 244.15 on the BSE.

The scrip opened at Rs. 244.60 and has touched a high and low of Rs. 250.50 and Rs. 244.60 respectively. So far 4007 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 309.00 on 19-Feb-2015 and a 52 week low of Rs. 207.95 on 09-May-2014.

Last one week high and low of the scrip stood at Rs. 258.00 and Rs. 240.50 respectively. The current market cap of the company is Rs. 4944.07 crore.

The promoters holding in the company stood at 74.91% while Institutions and Non-Institutions held 11.22% and 13.86% respectively.

Godrej Properties, the real estate development arm of the Godrej Group, is targeting to sell Rs 2,000 crore worth commercial assets over next 2-3 years in order to reduce its debt. The company’s net debt increased to Rs 2,764 crore as on March 31, 2015 from Rs 2,605 crore at the end of December 2014.

The company also plans to launch 14 projects this fiscal and is exploring opportunities to add more projects for future development. Of the 14 projects, about 7 will be green-field projects and seven will be the new phases in the existing projects.

Godrej Properties is a realty firm of Godrej group, promoted by Godrej Industries and Godrej & Boyce Manufacturing Company. It is one of the leading real estate development companies in India based in Mumbai, Maharashtra.

Godrej Properties Share Price

1873.10 -5.75 (-0.31%)
08-May-2026 16:59 View Price Chart
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