Godrej Properties shines on entering into an agreement for new project in Kolkata

18 Apr 2012

Godrej Properties is currently trading at Rs. 619.70, up by 9.15 points or 1.50% from its previous closing of Rs. 610.55 on the BSE.

The scrip opened at Rs. 619.00 and has touched a high and low of Rs. 625.00 and Rs. 619.00 respectively.

The BSE group 'B' 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. 625.00 and Rs. 604.10 respectively. The current market cap of the company is Rs. 4,835.00 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 16.24% and 8.76% respectively.

Godrej Properties (GPL), the real estate development arm of the Godrej Group, has entered into an agreement for developing approximately 1.36 acres of land in the posh area of Alipore on Burdwan Road, in Kolkata. The project is envisioned as a luxury project with modern specifications and state-of- the-art amenities, and will be 14 storey tall.

Like most Godrej Properties projects, this project will also be done on a joint venture basis. The project is expected to be launched in January 2013 and is estimated to be completed in 3 years. The project enjoys the advantage of being strategically located with easy access by road, rail, metro and tram services. Alipore has excellent social and physical infrastructure in the form of schools, hospitals, restaurants and hotels.

This will be the company’s fourth project in Kolkata and fits in well with its strategy of adding quality residential projects in different parts of the country.

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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