Godrej Properties enters Panipat

The Mumbai-based developer Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced its market entry in Panipat, Haryana, to develop its fourth residential plotted township in North India.

The subject plot, measuring approximately 43 acres, is located in Sector 40, Panipat. This project will contain approximately 1.02 million sq. ft. of plotted residential development, offering attractive plot sizes along with exceptional lifestyle amenities. This plotted development will have a revenue potential in excess of INR 1,250 crore*. The site is strategically located with access from the National Highway and is close to a host of social infrastructure.

Gaurav Pandey, MD & CEO, Godrej Properties, said, "We are pleased to announce our entry into Panipat. The project fits well with our strategy of expanding into new markets for plotted development. Haryana has been a key market for us, and we look forward to develop a quality plotted township in Panipat, that creates long-term value for its residents."

* On the basis of current business assumptions.

Shares of Godrej Properties Limited was last trading in BSE at Rs. 2363.45 as compared to the previous close of Rs. 2391.05. The total number of shares traded during the day was 22628 in over 1243 trades.

The stock hit an intraday high of Rs. 2421.00 and intraday low of 2356.75. The net turnover during the day was Rs. 53745739.00.

Source : Equity Bulls

Keywords

GodrejProperties INE484J01027 Realty Panipat Haryana FourthTownship ResidentialPlots