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Godrej Properties gains as arm enters into DMA to redevelop private society in Mumbai

26 Dec 2012 Evaluate

Godrej Properties is currently trading at Rs. 654.30, up by 2.20 points or 0.34% from its previous closing of Rs. 652.10 on the BSE.

The scrip opened at Rs. 665.00 and has touched a high and low of Rs. 665.00 and Rs. 654.30 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 696.00 and a 52 week low of Rs. 482.00.

Last one week high and low of the scrip stood at Rs. 680.00 and Rs. 640.10 respectively. The current market cap of the company is Rs. 5,106.00 crore.

The promoters holding in the company stood at 74.99% while Institutions and Non-Institutions held 15.94% and 9.07% respectively.

Godrej Properties (GPL), the real estate development arm of the Godrej Group, through its wholly owned subsidiary Godrej Projects Development (GPDPL), has entered into a development management agreement (DMA) with Ratnaraj Blessing Milestone, a partnership firm, to redevelop a private society, Kamgar Swa Sadan Cooperative Housing Society, situated at Mahadeo Palav Marg, Currey Road in Mumbai. Godrej Properties will act as development manager and will be responsible for the conceptualization, design, sales, and marketing of the project.

The project will offer approximately 120,000 square feet of saleable area and is proposed to be developed as a modern residential development with 2, 3, and 4 BHK apartments.  The site is strategically located close to Currey Road and Lower Parel Stations and will have easy access to the business hub of Lower Parel. 

For its services as development manager, GPDPL shall be entitled to a development management fee from Ratnaraj Blessing Milestone over the duration of the project plus an upside promote based on sales realizations beyond a threshold. The entire costs for design, construction, and development of the project will be borne by Ratnaraj Blessing Milestone in its role as developer, while the cost for marketing and supervision of the Project will be borne by Godrej Properties in its role as development manager.

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.

Godrej Properties Share Price

1758.65 11.15 (0.64%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Lodha Developers 871.70
Dilip Buildcon 457.55
DLF 601.80
Oberoi Realty 1710.00
Ahluwalia Contract(I 832.90
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