Godrej Properties to develop new group housing project in Kandivali, Mumbai

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced that it has extended its existing arrangements with Shivam Realty to develop a residential group housing project, off Akurli crossroad at Hanuman Nagar, Kandivali, East.

The new project will have an estimated booking value potential of approximately INR 1,000 crore*

This project is an extension of Godrej Tranquil and Godrej Nest and will offer approximately 7 Lakh square feet of saleable area. The project will be developed as a modern residential project comprising of apartments of various configurations. The land is strategically located with easy access to the Western Express Highway and offers a well-developed social and civic infrastructure with multiple schools, hospitals, retail malls, residential and commercial spaces in close proximity.

Mohit Malhotra, MD & CEO, Godrej Properties, said, "We are pleased to add this project to our portfolio. Kandivali is a developed micro-market and extending our existing projects in the location fits well with our strategy of deepening our presence in key micro markets across India."

Shares of Godrej Properties Limited was last trading in BSE at Rs. 1681.35 as compared to the previous close of Rs. 1672.50. The total number of shares traded during the day was 43168 in over 2936 trades.

The stock hit an intraday high of Rs. 1689.05 and intraday low of 1650.30. The net turnover during the day was Rs. 72379625.00.

*On the basis of the current business assumptions.

Source : Equity Bulls

Keywords

GodrejProperties INE484J01027 RealEstate GroupHousingProject Kandivali Mumbai