Godrej Properties is currently trading at Rs. 616.30, up by 5.90 points or 0.97% from its previous closing of Rs. 610.40 on the BSE.
The scrip opened at Rs. 626.00 and has touched a high and low of Rs. 626.00 and Rs. 612.25 respectively. So far 1,160 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. 658.95 and Rs. 609.00 respectively. The current market cap of the company is Rs. 4,304.00 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) will redevelop 18 residential buildings represented by 18 co-operative societies in Sahakar Nagar, Chembur in Mumbai, through Godrej Landmark Redevelopers (GLRPL), a subsidiary of Godrej Projects Development (GPDPL), under a tripartite agreement entered amongst GLRPL, Kamla and the 18 societies on March 29, 2012. These 18 societies, representing the 18 residential buildings (currently housing 216 residents) in the Sahakar Nagar 1 layout in Chembur, which was developed by MHADA in 1954, have come together to redevelop their property under Regulation 33(5) of the Development Control Regulation for Greater Mumbai, 1991.
The project is spread over approximately 14,600 square meters, will offer approximately 600,000 square feet of free saleable area and is proposed to be developed as a modern group housing residential development comprising 2, 2.5, and 3 BHK apartments. GLRPL has entered in to a revenue sharing arrangement with Kamla for developing this project, with GLRPL getting 87.5% of the revenues arising out of the free sale area.
Earlier, Godrej Properties through its wholly owned subsidiary Godrej Projects Development had entered into an agreement on January 18, 2012 with Kamla Landmarc Property Leasing and Finance (Kamla) to undertake a residential redevelopment project.
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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