Godrej Properties to develop a luxury residential project in Delhi through a Joint venture with TDI Group

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced that it has entered into a Joint venture with TDI group to develop an ultra-luxury residential project in Connaught Place, one of the most premium location within the Central Business District of New Delhi.

The project is estimated to have a developable potential of approximately 125,000 square feet saleable area comprising primarily of residential apartments of various configurations.

The site is centrally located and offers excellent connectivity, well developed social and civic infrastructure with Delhi's best schools, hospitals, retail and commercial spaces in close proximity.

Mr. Mohit Malhotra, MD & CEO, Godrej Properties, said, "As we continue to strengthen our presence in Delhi, we are happy to add this project in one of downtown Delhi's most desirable locations. This will be our third project in Delhi and further expands our presence across India's leading cities."

Mr. Kamal Taneja, Managing Director, TDI InfraCorp, said, "We are proud to be associated with Godrej Properties to deliver this uber-luxury project and we look forward to this association".

Shares of Godrej Properties Limited was last trading in BSE at Rs. 2023.15 as compared to the previous close of Rs. 2020.05. The total number of shares traded during the day was 40784 in over 3135 trades.

The stock hit an intraday high of Rs. 2062.10 and intraday low of 2005.85. The net turnover during the day was Rs. 82805835.00.

Source : Equity Bulls

Keywords

GodrejPropertiesLimited INE484J01027 GODREJPROP Realty RealEstate JointVenture TDIGroup UltraLuxury ResidentialProject ConnaughtPlace