Godrej Properties rises on acquiring around 46-acre land parcel in Indore
Godrej Properties is currently trading at Rs. 3187.05, up by 6.25 points or 0.20% from its previous closing of Rs. 3180.80 on the BSE.
The scrip opened at Rs. 3214.40 and has touched a high and low of Rs. 3214.40 and Rs. 3159.00 respectively. So far 4244 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 3400.00 on 16-Jul-2024 and a 52 week low of Rs. 1496.40 on 14-Aug-2023.
Last one week high and low of the scrip stood at Rs. 3214.40 and Rs. 3061.45 respectively. The current market cap of the company is Rs. 88533.34 crore.
The promoters holding in the company stood at 58.48%, while Institutions and Non-Institutions held 35.54% and 5.98% respectively.
Godrej Properties has acquired around 46-acre land parcel in Indore. The development on this land will primarily comprise plotted residential units and will offer an estimated saleable area of around 1.16 million square feet.
The land is located just off Indore-Ujjain Road, a major upcoming corridor of Indore, that is slated to be widened to a 6-lane highway and an important residential and commercial area in the city. The location offers good connectivity to key landmarks such as the Indore International Airport, Indore Junction railway station, educational institutes, and medical infrastructure.
The proposed expansion of Metro lines, the growth of corporate and IT sectors, and ongoing infrastructure development have further contributed to the growth of the residential real estate market in the city.
Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.
