Godrej Properties rises on inking MOU with Axis Bank

20 Jul 2012

Godrej Properties is currently trading at Rs. 511.00, up by 6.35 points or 1.26% from its previous closing of Rs. 504.65 on the BSE.

The scrip opened at Rs. 502.00 and has touched a high and low of Rs. 513.00 and Rs. 501.10 respectively. So far 1,594 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 843.00 on 21-Jul-2011 and a 52 week low of Rs. 501.10 on 19-Jul-2012.

Last one week high and low of the scrip stood at Rs. 529.80 and Rs. 501.10 respectively. The current market cap of the company is Rs. 3,988 crore.

The promoters holding in the company stood at 74.99% while Institutions and Non-Institutions held 16.07% and 8.94% respectively.

Godrej Properties (GPL), the real estate development arm of the Godrej Group, has inked a memorandum of understanding (MOU) with Axis Bank to offer a special scheme to customer of all GPL projects which have been approved by Axis Bank for home loan purposes.

As per this MOU, GPL customers will be able to get a home loan from Axis Bank after paying only 10% from their own resources as against the traditional 20%. They will have the flexibility to pay the balance 10% during the term of payment schedule.

This is a unique scheme in the market and the offers will also be beneficial for young customers as their initial contribution becomes half of what it would have been otherwise.

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.

Related Godrej Properties Ltd. Links:

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1538.90 -11.85 (-0.76%) Feb 26, 18:55
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