Godrej Properties soars on plan to set up two real estate projects in Kolkata

23 Mar 2012

Godrej Properties is currently trading at Rs. 650.00, up by 30.60 points or 4.94% from its previous closing of Rs. 619.40 on the BSE.

The scrip opened at Rs. 631.30 and has touched a high and low of Rs. 668.00 and Rs. 631.30 respectively. So far 20879 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 845.00 on 12-Jul-2011 and a 52 week low of Rs. 592.30 on 21-Mar-2012.

Last one week high and low of the scrip stood at Rs. 668.00 and Rs. 592.30 respectively. The current market cap of the company is Rs. 4422.55 crore.

The promoters holding in the company stood at 83.79% while Institutions and Non-Institutions held 7.78% and 8.43% respectively.

Godrej Properties (GPL), the real estate development arm of the Godrej Group, is likely to set up two real estate projects in Kolkata next fiscal on a joint venture basis. The company is yet to finalize the names of its joint venture partners as it expects to finalize it in the next fiscal.

At present the company has one residential and two commercial projects in Kolkata. While Godrej Prakriti, the residential project is spread over 22 acres of land in north Kolkata (near Belghoria), Godrej Waterside and Genesis are the two commercial projects located in Salt Lake, the state's IT hub.

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.

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