Godrej Properties surges on plan to develop residential project in Pune

27 Mar 2014 Evaluate

Godrej Properties is currently trading at Rs. 191.75, up by 5.15 points or 2.76 % from its previous closing of Rs. 186.60 on the BSE.

The scrip opened at Rs. 188.00 and has touched a high and low of Rs. 193.10 and Rs. 188.00 respectively. So far 40367 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 296.76 on 09-May-2013 and a 52 week low of Rs. 153.90 on 30-Jan-2014.

Last one week high and low of the scrip stood at Rs. 187.90 and Rs. 172.05 respectively. The current market cap of the company is Rs. 3717.71 crore.

The promoters holding in the company stood at 74.96 % while Institutions and Non-Institutions held 15.51 % and 9.53 % respectively.

Godrej Properties (GPL), the real estate development arm of the Godrej Group, has entered into a partnership to develop a residential project in Mundhwa, Keshavnagar, Pune. The project, spread over 43 acres, will offer approximately 260,000 square meters (2.8 million square feet) of saleable area and will be developed as a premium residential development comprising 1, 2, 3, and 4 BHK apartments. Like most Godrej Properties' projects, this is a joint venture project, with GPL getting 35% of the profits from the project.

The location offers excellent connectivity to all key areas in Pune, like Koregaon Park, Kalyani Nagar, Kharadi-Hadapsar bypass, Pune - Nagar Road, the Pune - Solapur Highway (NH 9) and is in close proximity to IT parks situated in Kharadi & Hadapsar. This project will also benefit from the well developed social and educational infrastructure in the immediate neighborhood.

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

1326.35 21.20 (1.62%)
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