Godrej Properties rises on acquiring land in Ahmedabad
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Godrej Properties is currently trading at Rs. 3143.85, up by 12.15 points or 0.39% from its previous closing of Rs. 3131.70 on the BSE.
The scrip opened at Rs. 3173.65 and has touched a high and low of Rs. 3173.65 and Rs. 3138.60 respectively. So far 425 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-Sep-2024 and a 52 week low of Rs. 1548.00 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 3257.25 and Rs. 3003.00 respectively. The current market cap of the company is Rs. 87080.71 crore.
The promoters holding in the company stood at 58.48%, while Institutions and Non-Institutions held 35.46% and 6.07% respectively.
Godrej Properties (GPL) has acquired around 3 acres of land in Vastrapur, Ahmedabad. The development on this land is estimated to have a potential of around 0.9 million square feet of saleable area comprising primarily of premium residential apartments of various configurations with an estimated booking value of around Rs 1,300 crore. This acquisition is in line with GPL's strategy of developing high-quality residential projects across India's leading real estate markets.
This land parcel is strategically located in Vastrapur, a premium residential locality in West Ahmedabad offering good social infrastructure and excellent connectivity to key areas of the city. The area is well served by top schools and healthcare facilities. Renowned landmarks, including IIM Ahmedabad, Vastrapur Lake Garden, Sabarmati Riverfront Project, and Nexus Ahmedabad One Mall, further enhance its appeal. Additionally, Vastrapur’s proximity to business hubs like Navratna Business Park and Pinnacle Business Park makes it a prime location for residents seeking convenience, modern living, and accessibility.
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.
