Godrej Properties soars on selling residential space in Gurgaon

13 Sep 2012

Godrej Properties is currently trading at Rs. 556.00, up by 15.30 points or 2.83% from its previous closing of Rs. 540.70 on the BSE.

The scrip opened at Rs. 544.80 and has touched a high and low of Rs. 561.00 and Rs. 544.80 respectively. So far 19547 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 700.55 on 15-Sep-2011 and a 52 week low of Rs. 482.00 on 02-Aug-2012.

Last one week high and low of the scrip stood at Rs. 561.00 and Rs. 515.25 respectively. The current market cap of the company is Rs. 4347.91 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, the Mumbai-based real estate developer, has successfully managed to sell over one million square feet of space in its residential project in Gurgaon in a single day. The company has sold the first phase of its housing project comprising 695 flats in one day.

The developer had launched the 21- acre housing project in Gurgaon comprising 1,200 flats with an investment of up to Rs 600 crore on September 11, 2012. The company will develop the said project in partnership with Zara Sanya in which Godrej Properties will hold 65% stake. The company will be constructing about 1,200 flats in 11 towers and the price of the flats will start from Rs 75 lakh. The company is expecting to garner total revenue of Rs 1,200 crore from the said 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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