Godrej Properties Ltd Share Price – NSE  / BSE

Realty, Mid Cap

The land parcel comprises primarily residential plotted development with an estimated revenue potential of Rs 500 crore.

The land is strategically located in the fast-developing micro-market of Joka, which is close to the main city and in proximity to Diamond Harbour, a well-known seaside weekend getaway.

Gaurav Pandey, MD and CEO of Godrej Properties said, “This land acquisition fits with our strategy of deepening our presence across India’s leading cities. We will aim to build an outstanding plotted development project in Joka that creates long term value for its residents.”

Godrej Properties is the real estate arm of the Godrej Group. It is subsidiary of Godrej Industries, which holds 58.48% of the company's equity shares as on 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.

Powered by Capital Market - Live News

Godrej Properties announced that it has acquired a ~ 53 acre land parcel in Joka, Kolkata.

The proposed project is estimated to have a development potential of ~ 1.3 million square feet of saleable area comprising primarily residential plotted development with an estimated revenue potential of Rs 500 crore.

The land is strategically located in the fast-developing micro-market of Joka, which is close to the main city and in proximity to Diamond Harbour, a well-known seaside weekend getaway.

Joka has rapidly transformed into a promising residential hub in Kolkata, fuelled by infrastructure growth. With IIM-Calcutta as an educational landmark, enhanced healthcare facilities, and commercial centers, Joka offers residents convenience and quality of life. On the back of strategic connectivity through Kolkata Metro's Line 3 and extensive road networks, Joka is well-connected to key areas across the city.

Powered by Capital Market - Live News

Securities in F&O Ban:

Aarti Industries, Aditya Birla Fashion Retail (ABFRL), GNFC, Granules India, Hindustan Copper, Indraprastha Gas (IGL) are banned from F&O trading on 21 November 2024.

Stocks to Watch:

Dr Reddy’s Laboratories (DRL) informed that on Tuesday, 19 November 2024, US Food and Drug Administration (USFDA) completed its Good manufacturing practice (GMP) inspection at API manufacturing facility located in Bollaram, Hyderabad.

Garden Reach Shipbuilders & Engineers (GRSE) has signed a contract with the Transport Department, Government of West Bengal, for the delivery of 13 hybrid ferries for total consideration of Rs 226.18 crore.

Godrej Properties has announced the acquisition of a 53-acre land parcel in Joka, Kolkata. The company plans to develop a residential plotted development project on this land, with an estimated development potential of 1.3 million square feet and a revenue potential of approximately Rs 500 crore.

Tata Power Company entered into strategic partnership with Druk Green Power Corpo, a subsidiary of Druk Holding and Investments, the sole generation utility of Bhutan, to collaborate and develop at least 5,000 MW of clean energy generation capacity in Bhutan.

JSW Steel declared as preferred bidder in the Codli mineral block in Goa. The projected iron ore resources are at 48.5 million tonnes, in addition to 2.7 million tonnes of ore in dumps.

Aegis Logistics’s material subsidiary, Aegis Vopak Terminals, has filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering. The IPO consists of a fresh issue of Rs 3,500 crore.

Kilburn Engineering executed a share purchase agreement with Monga Strayfield for the porposed acquisition of a 100% stake in Monga Strayfield for Rs 123 crore.

PSP Projects said that Adani Infra (India), Adani Group’s PMC arm, signed definitive agreements to acquire up to 30.07% stake from the company’s existing promoter - Prahladbhai S. Patel. Presently, Prahladbhai S Patel and Family own 60.14% stake in the company.

Meanwhile, Adani Infra (India) has launched an open offer to acquire additional 1,03,06,866 shares, or 26% stake in PSP Projects from public shareholders. The offer price is set at Rs 642.06 per share, valuing the deal at approximately Rs 662 crore.

Existing promoters hold a 60.14% interest in PSP Projects. Prabhladbhai S Patel holds 47.76% shares, of which he is selling 30.07%.

Godawari Power Ispat has signed definitive agreement to acquire 51% stake in Jammu Pigments (JPL) at post money valuation of Rs 500 crore.

Powered by Capital Market - Live News

Godrej Properties has announced the acquisition of a 53-acre land parcel in Joka, Kolkata. The company plans to develop a residential plotted development project on this land, with an estimated development potential of 1.3 million square feet and a revenue potential of approximately Rs 500 crore.

Joka, a rapidly developing micro-market, is strategically located close to the main city and Diamond Harbour. The area has seen significant infrastructure growth, including the upcoming Kolkata Metro’s Line 3, which will enhance connectivity to key areas of the city.

Gaurav Pandey, MD & CEO of Godrej Properties, expressed optimism about the project, stating that it aligns with the company's strategy of expanding its presence in major Indian cities. The company aims to create a high-quality plotted development that delivers long-term value to its residents.

Godrej Properties is the largest developer in India by the value of residential sales achieved. The company's consolidated net profit surged 402% YoY to Rs 335.21 crore in Q2 FY25. Revenue also skyrocketed 219% to Rs 1,093.23 crore.

Powered by Capital Market - Live News