Shares of Godrej Properties soar on announcing the development of a township project

About Project

Godrej Properties Ltd. (GPL), a leading name in Indian real estate, has announced the development of a large township project in North Bengaluru. This project, expected to have a booking value of approximately Rs 5,000 crore, promises to cater to the growing demand for premium living spaces in the city.

The Godrej Properties project in North Bengaluru offers 5.6 million square feet of saleable area, primarily comprising premium residential apartments. The project spread across 62 acres, is strategically located near key landmarks and commercial hubs. The focus is on quality living with modern amenities, contemporary design, and outstanding connectivity. The land acquisition agreement was initiated in 2014, and the first phase is expected to launch in the upcoming financial year.

This project signifies Godrej Properties’ commitment to expanding its presence in Bengaluru and catering to the evolving needs of homebuyers seeking premium living spaces with excellent connectivity and modern amenities.

Gaurav Pandey, MD & CEO of Godrej Properties, expressed his excitement about the project, stating, “We are thrilled with the opportunity to develop a large-scale project in a strategic location in Bengaluru. We aim to build an outstanding residential community that creates long-term value for its residents.”

Share Price Movements

The shares of Godrej Properties Ltd surged 2.53% or 61.60 points to Rs 2,501.10 as compared to the previous day’s closing of Rs 2,439.50. Today the share opened at Rs 2,486.95 and touched intraday high and low of Rs 2,504.50 and Rs 2,474.70 respectively. The share has a 52-week high and 52-week low of Rs 2,515 and Rs 1,005.70.

About the company

Godrej Properties, a leading Indian real estate developer, is known for its commitment to innovation, sustainability, and excellence. With a 127-year legacy, they have become the largest developer in India by value and volume of residential sales in FY 2021. GPL has been committed to sustainable development since 2010, with all developments being third-party-certified green buildings since 2010. In 2017, they were a founding partner of the Sustainable Housing Leadership Consortium to spread sustainable development practices across the Indian real estate sector. Godrej Properties has received over 400 awards and recognitions, including the Porter Prize 2019.

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