Godrej Properties trades higher on acquiring 49% stake in Godrej Skyline Developers
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Godrej Properties is currently trading at Rs. 1555.00, up by 18.40 points or 1.20% from its previous closing of Rs. 1536.60 on the BSE.
The scrip opened at Rs. 1545.90 and has touched a high and low of Rs. 1578.50 and Rs. 1545.90 respectively. So far 4154 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1768.80 on 28-Jul-2023 and a 52 week low of Rs. 1005.70 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1612.50 and Rs. 1533.00 respectively. The current market cap of the company is Rs. 43888.56 crore.
The promoters holding in the company stood at 58.48%, while Institutions and Non-Institutions held 33.15% and 8.36% respectively.
Godrej Properties has acquired 49% equity shares of Godrej Skyline Developers (GSDPL) from the existing shareholder. Pursuant to the said acquisition, the company together with its wholly-owned subsidiary viz Godrej Projects Development (GPDL), holds 93% of the equity share capital of GSDPL. Cost of acquisition is Rs 37.64 crore.
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.
