Godrej Properties shines on inking pacts to develop township project in Bengaluru

04 Mar 2024 Evaluate

Godrej Properties is currently trading at Rs. 2489.75, up by 50.25 points or 2.06% from its previous closing of Rs. 2439.50 on the BSE.

The scrip opened at Rs. 2486.95 and has touched a high and low of Rs. 2524.00 and Rs. 2474.70 respectively. So far 8966 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2,524.00 on 04-Mar-2024 and a 52 week low of Rs. 1005.70 on 29-Mar-2023.

Last one week high and low of the scrip stood at Rs. 2524.00 and Rs. 2335.60 respectively. The current market cap of the company is Rs. 67828.22 crore.

The promoters holding in the company stood at 58.48%, while Institutions and Non-Institutions held 34.42% and 7.09% respectively.

Godrej Properties (GPL) has entered into definitive agreements to develop a large township project in North Bengaluru under a profit-sharing model. Spread across around 62 acres, the land is located in a prime area of North Bengaluru. The project will offer around 5.6 million square feet of saleable area comprising primarily premium residential apartments of various configurations. The project will cater to the aspirations of customers who are looking for a high-quality living experience with modern amenities and design with outstanding connectivity.

This land parcel is strategically located in one of the most sought-after locations in Bengaluru offering excellent connectivity to the Kempegowda International Airport, upcoming metro station, multiple upcoming residential and commercial developments, Special Economic Zone, and social infrastructure. The location also offers connectivity to the 8-lane Highway connecting to the Central Business District and other key parts of Bengaluru through Outer Ring Road – Hebbal.

While an agreement for sale for land including this 62 acres was entered into by GPL in 2014, the development wasn’t able to commence at the time. Over the past few months, the 62 acres development opportunity has crystallized, and GPL now expects to launch the first phase of development on this land in the upcoming financial year.

Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.


Godrej Properties Share Price

2623.85 -8.20 (-0.31%)
29-Apr-2024 14:02 View Price Chart
Peers
Company Name CMP
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DLF 883.90
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