Godrej Properties to develop a 9-acre project in Pune

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced that it has acquired a 9 acres land parcel in the residential micro-market of Pimpri-Chinchwad in Pune. The development will primarily be for a group housing project.

The project in Pimpri-Chinchwad will have a developable potential of approximately 1.7 million square feet of saleable area with an estimated revenue potential of approximately INR 1,400 crore*

Pimpri-Chinchwad is one of the established residential locations in Pune and has excellent connectivity to all major social and commercial hubs of Pune city.

Mohit Malhotra, MD & CEO, Godrej Properties, said, "Pimpri Chinchwad is an important micromarket in Pune and we are happy to add this land parcel to our portfolio. This will further expand our presence in Pune and fits with our strategy of deepening our presence in key micro markets across India's leading cities."

Shares of Godrej Properties Limited was last trading in BSE at Rs. 1665.15 as compared to the previous close of Rs. 1635.80. The total number of shares traded during the day was 61264 in over 4346 trades.

The stock hit an intraday high of Rs. 1675.00 and intraday low of 1642.25. The net turnover during the day was Rs. 101581547.00.

*On the basis of the current business assumptions

Source : Equity Bulls

Keywords

GodrejProperties INE484J01027 RealEstate 9Acres Land PimpriChinchwad Pune GroupHousing