At 01:05 pm, the S&P BSE Realty index, the top gainer among sectoral indices, was up 4.7 per cent
In the past one month, the stock of Godrej Properties has zoomed 64 per cent as compared to 5.6 per cent rise in the S&P BSE Sensex
The land parcel is situated in a marquee residential location and is in very close proximity to Matunga Five Gardens
Godrej Properties sold record 340 apartments worth Rs 580 crore in second phase of Noida project
Valuations, however, factor in the demand uptick
The Nifty Realty Index can soar up to 15% on hopes of a strong demand for housing this festive season
Godrej Properties said it sold 340 homes with an area of more than half a million square feet on the first day of launch, making it one of the most successful launches in the country in recent times
Top listed players eyeing higher market share
Godrej and Prestige posted sales bookings of Rs 6,725 crore and Rs 5,461 crore, respectively, in 2020-21 (FY21)
Demand expected to pick up; deleveraging, consolidation are key triggers
Godrej Properties has rejigged its Mumbai management team and brought in a new chief executive
Total income rose to Rs 261.99 crore in the first quarter of this fiscal from Rs 195.66 crore in the corresponding period of the previous year.
The executive chairman highlighted that the company in March raised Rs 3,750 crore through Qualified Institutional Placement (QIP) process.
With the stake buy in Godrej Properties, Godrej Industries' stake in the company will rise to 47.29 per cent.
Godrej Properties becomes country's largest listed real estate developer in terms of sales bookings during the last fiscal year as it clocked a record pre-sales of Rs 6,725 crore despite pandemic.
Godrej Properties has witnessed an Inverted Head & Shoulder pattern breakout on daily chart post taking support near its long-term EMA, indicating bullish sentiment in the counter
The project has long-term lease rights of up to 99 years for residential or mixed use and 60 years for non-residential formats.
Together they sold 21.23 mn sq ft area during first three quarters of FY21 (April-December 2020) despite the first wave of Covid-19, up 2% two over the year-ago period
Godrej Properties expects its sales booking this fiscal to surpass the last year's record Rs 6,725 crore despite the outbreak of second wave of Covid-19
Margin trajectory and valuations to limit upsides