Godrej Properties gains on inking agreement to redevelop private society in Mumbai

01 Aug 2012

Godrej Properties is currently trading at Rs. 515.50, up by 7.65 points or 1.51% from its previous closing of Rs. 507.85 on the BSE.

The scrip opened at Rs. 513.05 and has touched a high and low of Rs. 520.00 and Rs. 513.05 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 765.00 on 02-Aug-2011 and a 52 week low of Rs. 500.00 on 26-Jul-2012.

Last one week high and low of the scrip stood at Rs. 521.70 and Rs. 500.00 respectively. The current market cap of the company is Rs. 4,023.00 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, through its wholly owned subsidiary Godrej Projects Development (GPDPL), has signed an agreement to redevelop a private society owned property in Ghatkopar at Mumbai.

GPDPL has signed the development agreement with Mukund Co-operative Housing Society for this project. The project is spread over 2.5 acres and will offer approximately 185,000 square feet of free sale area. About 139 existing tenants will be rehabilitated as part of this project.

This project is located in the heart of the central suburbs, just off LBS Marg and has excellent connectivity to Bandra-Kurla Complex, the domestic and international airports, and the Ghatkopar Railway station. The site is also in close proximity to the proposed Versova- Andheri- Ghatkopar Metro line.

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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