Godrej Properties gains on entering into partnership to develop residential project in Chennai

28 Mar 2014 Evaluate

Godrej Properties is currently trading at Rs. 196.00, up by 4.40 points or 2.30% from its previous closing of Rs. 191.60 on the BSE.

The scrip opened at Rs. 193.35 and has touched a high and low of Rs. 196.55 and Rs. 193.25 respectively. So far 13,000 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. 196.55 and Rs. 176.10 respectively. The current market cap of the company is Rs. 3,911.00 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 with SSPDL Green Acres LLP to develop a residential project at Padur, Old Mahabalipuram Road (OMR), near Siruseri IT Park, in Chennai.  The proposed project, spread over 7 acres, will offer approximately 93,000 square meters (1 million square feet) of saleable area and will be developed as a modern group housing residential development comprising 1, 2 & 3 BHK apartments.

Like most Godrej Properties’ projects, this project is being developed through the profit sharing model. The location offers excellent connectivity to all key areas in Chennai including the East Coast Road (ECR) and Grand Southern Trunk (GST) road. The project will also benefit from the rapidly developing social infrastructure and Information Technology zones surrounding it.

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

1233.80 -1.95 (-0.16%)
Jul 05, 18:01 View Price Chart
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