Godrej Properties Ltd to launch 1st phase of new township project at North Bengaluru in next financial year

Godrej Properties Limited has entered into definitive agreements to develop a township project on a 62 acre land parcel in North Bengaluru under a profit-sharing model, offering ~ 5.6 million square feet of saleable area with an estimated booking value to be ~ INR 5,000 crore.

While an agreement for sale for land, including this 62 acre, was entered into by the Company in 2014, the development wasn't able to commence at the time. Over the past few months, the 62 acre development opportunity has crystallized and the Company now expects to launch the first phase of development on this land in the upcoming financial year.

Shares of Godrej Properties Limited was last trading in BSE at Rs. 2428.90 as compared to the previous close of Rs. 2397.00. The total number of shares traded during the day was 1010885 in over 957 trades.

The stock hit an intraday high of Rs. 2435.00 and intraday low of 2392.70. The net turnover during the day was Rs. 2428303704.00.

Source : Equity Bulls

Keywords

GodrejProperties INE484J01027 1stPhase NewTownshipProject NorthBengaluru 62Acres