Godrej Properties rises on entering into DMA with Manyata Developers

28 Sep 2017

Godrej Properties is currently trading at Rs. 601.00, up by 6.10 points or 1.03% from its previous closing of Rs. 594.90 on the BSE.

The scrip opened at Rs. 593.00 and has touched a high and low of Rs. 609.65 and Rs. 593.00 respectively. So far 4,367 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 679.25 on 13-Sep-2017 and a 52 week low of Rs. 285.00 on 21-Nov-2016.

Last one week high and low of the scrip stood at Rs. 628.85 and Rs. 585.80 respectively. The current market cap of the company is Rs. 13,010.00 crore.

The promoters holding in the company stood at 74.91%, while Institutions and Non-Institutions held 10.68% and 14.41% respectively.

Godrej Properties (GPL) has entered into a Development Management Agreement (DMA) with Manyata Developers to develop a group housing project in East Bangalore. Manyata Developers is a leading Bangalore based real estate company, founded by Reddy Veeranna.

The first phase of the project is spread over 16 acres and will offer approximately 125,000 square metres (1.35 million square feet) of saleable area. The total project is expected to offer approximately 437,000 square metres (4.7 million square feet) spread over 53 acres.

The project will be developed as a modern residential development comprising of apartments of various configurations. The location is well connected to key IT Hubs of Sarjapur Road, Whitefield, Outer Ring Road and Electronic City. This will be GPL’s fourteenth project in Bangalore.

Godrej Properties is currently developing residential, commercial and township projects spread across approximately 13.82 million square meters (141.45 million square feet) in 12 cities.

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Godrej Properties Share Price

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