Godrej Properties Ltd Share Price – NSE  / BSE

Realty, Mid Cap

The headline equity benchmarks traded with significant losses in early afternoon trade, following an unexpectedly strong US jobs report, which dampened expectations of early interest rate cuts by the Federal Reserve. At the same time, concerns over slowing earnings continued to persist. The Nifty traded below the 23,250 mark. Metal shares extended losses for the fourth consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, slipped 626.11 points or 0.81% to 76,758.41. The Nifty 50 index lost 212.50 points or 0.91% to 23,219.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 2.69% and the S&P BSE Small-Cap index dropped 2.79%.

The market breadth was weak. On the BSE, 684 shares rose and 3,266 shares fell. A total of 148 shares were unchanged.

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India's foreign exchange reserves fell by $5.7 billion to $634.59 billion for the week ended January 3, data released by the Reserve Bank of India (RBI) on Friday showed.

Foreign currency assets decreased by $6.441 billion to $545.48 billion, the data released on Friday showed.

Gold reserves increased by $824 million to $67.092 billion during the week. The Special Drawing Rights (SDRs) were down by $58 million to $17.815 billion, the RBI said.

India’s reserve position with the IMF was down by $18 million at $4.199 billion in the reporting week, the apex bank data showed.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 6.18% to 15.84. The Nifty 30 January 2025 futures were trading at 23,276.55, at a premium of 57.55 points as compared with the spot at 23,219.

The Nifty option chain for the 30 January 2025 expiry showed maximum Call OI of 52 lakh contracts at the 24,000 strike price. Maximum Put OI of 47.8 lakh contracts was seen at 24,000 strike price.

Buzzing Index:

The Nifty Metal index dropped 2.18% to 8,082.80. The index tumbled 5.58% in four consecutive trading sessions.

APL Apollo Tubes (down 5.79%), Welspun Corp (down 4.37%), Adani Enterprises (down 3.15%), Ratnamani Metals & Tubes (down 2.98%), NMDC (down 2.92%), Steel Authority of India (down 2.9%), Vedanta (down 2.34%), Tata Steel (down 2.31%), Jindal Stainless (down 2.05%) and National Aluminium Company (down 1.81%) declined.

Stocks in Spotlight:

Godrej Properties slipped 3.05%. The company has announced the launch of its first premium residential project, Godrej Madison Avenue, in Kokapet, Hyderabad.

Ola Electric Mobility fell 3.05% after the firm said that the Central Consumer Protection Authority (CCPA) requested additional documents from the company as part of its ongoing investigation on 10 January 2025.

Sarda Energy & Minerals (SEML) dropped 6.33%. The company has announced that its wholly owned subsidiary, Chhattisgarh Hydro Power LLP, has commenced the trial production of Rehar Small Hydro Power Project.

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The project is spread across a 3-acre land parcel and has approximately 1.2 million square feet of saleable area. It hosts premium residential apartments in 3 & 4 BHK configurations and the projects total estimated booking value is Rs 1,300 crore.

The company’s cumulative booking value potential in Hyderabad stands at Rs 4,800 crore.

Hyderabad’s residential market has been gaining momentum and witnessing an increase in demand for high-quality homes, driven by a strong IT ecosystem and robust infrastructure development.

Kokapet, known for its proximity to the Outer Ring Road, is a preferred destination for premium residential and commercial developments and has been at the forefront of this growth.

Gaurav Pandey, MD & CEO, Godrej Properties, said: “We are excited to launch our first project in Hyderabad, representing a significant step in our growth journey.

Kokapet’s strategic location and infrastructure advantages make it an ideal destination for premium residential developments. Godrej Madison Avenue aligns with our vision of creating sustainable, high-quality homes that cater to the aspirations of discerning buyers seeking thoughtfully designed living spaces.”

Godrej Properties is the real estate arm of the Godrej Group. It is a subsidiary of Godrej Industries, which holds 58.48% of the company's equity shares as of 30 September 2024. The company currently operates in various cities and focuses on residential, commercial, and township development.

The company’s consolidated net profit soared to Rs 335.21 crore in Q2 FY25 as against Rs 66.80 crore posted in Q2 FY24. Revenue from operations zoomed to Rs 1,093.23 crore in the quarter ended 30 September 2024 as compared to Rs 343 crore reported in the corresponding quarter previous year.

The scrip declined 2.93% to currently trade at Rs 2315.95 on the BSE.

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Godrej Properties announced the launch of Godrej Madison Avenue its first premium residential project in Kokapet, Hyderabad, underlining its commitment to expanding its footprint in Hyderabad's high-growth residential real estate market.

Situated on ~3 acres of land with an estimated booking value of ~Rs 1,300 crore, Godrej Madison Avenue will feature ~1.2 million square feet of saleable area, offering premium residential apartments in 3 & 4 BHK configurations.

This project brings to life Manhattan-inspired architecture and design, catering to the evolving preferences of homebuyers seeking sustainable, wellness-driven living spaces in high-potential locations. Thoughtfully planned to complement a modern lifestyle, the development features Manhattan-style landscaped spaces, a Central Park-inspired fountain, and a triple-height lobby.

Key features include exclusive terrace amenities, such as a gym, badminton court, and lounge, offering unparalleled views and experiences. The project also boasts a range of well-curated amenities, including jogging tracks, pickleball courts, water features, and a three-level clubhouse. Together, these elements create a harmonious balance of elegance, functionality, and wellness for contemporary living.

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The development on the said land will primarily comprise premium plotted residential units. The project will have an estimated revenue potential of Rs 500 crore.

After acquiring 46 acres in July’2024 on Indore-Ujjain Road, this will be GPL’s second acquisition in Indore thereby strengthening its presence in the city of Indore,” the company stated.

Gaurav Pandey, MD & CEO, Godrej Properties, said: “We are happy to expand our presence in Indore further strengthening our presence in this vibrant city.

With residential plotted developments gaining momentum, the Indore bypass road presents a promising opportunity for us to expand. This acquisition strategically aligns with our focus on entering high-growth cities through plotted developments.”

Godrej Properties is the real estate arm of the Godrej Group. It is a subsidiary of Godrej Industries, which holds 58.48% of the company's equity shares as of 30 September 2024. The company currently operates in various cities and focuses on residential, commercial, and township development.

The company’s consolidated net profit soared to Rs 335.21 crore in Q2 FY25 as against Rs 66.80 crore posted in Q2 FY24. Revenue from operations zoomed to Rs 1,093.23 crore in the quarter ended 30 September 2024 as compared to Rs 343 crore reported in the corresponding quarter previous year.

The scrip fell 0.88% to currently trade at Rs 2474.80 on the BSE.

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