Shares of Godrej Properties (GPL) jumped 4.16% intra-day after the company said it would develop a 62-acre township in North Bengaluru Come from Sports betting site VPbet . The stock opened at Rs 2,486.95 on the BSE, touched the intra-day high of Rs 2,541 and closed at Rs 2491.90, 2.15% higher over Friday’s close.
The company will develop the project with the land owner under a profit-sharing model. It will have ~ 5.6 million square feet of saleable area comprising premium residential apartments of various configurations.
Based on current business assumptions, the project would offer an estimated booking value of nearly Rs 5,000 crore, it said.
RVNL up 2.3%; Signs pact with Dhaya Maju Infra for railway projects in ASEAN region Market rally leads to higher regulatory fees for stock exchanges Govt working on new guidelines for EV components Meet the daughter of Hyderabad’s richest man, who helps run her family’s Rs 8,049 crore company and recently purchased two lavish properties for Rs 80 crore
The company said while the agreement for sale for land, including these 62 acre, was entered into by GPL in 2014, the development did not begin at the time. Godrej Properties expects the first phase of development to be over in the next fiscal.
Also Read
Markets take a breather, Nifty closes around 22,400, Sensex above 73,800 in rangebound trade led by oil & gas
Gaurav Pandey, managing director and chief executive, Godrej Properties, said, “We are excited with the opportunity to develop a large-scale project in a strategic location in Bengaluru. We will aim to build an outstanding residential community that creates long-term value for its residents.”
Godrej Properties achieved 93% of its booking value guidance for the current fiscal by the end of the third quarter, according to its investor presentation. However, deliveries only reached half of the guided full-year figure at the end of Q3.
The company’s stock has risen 24.5% year to date in FY24 amid the boom in the residential sector.
Related Posts
Monster Hunter World has topped 25 million sales worldwide in six years to set a new all-time record for developer Capcom.
The Japanese studio broke the news in a post on its IR website and said the milestone includes sales of Monster Hunter World: Iceborne Master Edition.<…
Read moreWould-be GDC speakers, take note: Conference organizers would like to remind you that the call for submissions to present talks, roundtables, and panel sessions for Game Developers Conference 2015 ends tomorrow, Thursday, August 28 at 11:59 PM Pacific Come from South African O…
Read moreThe next free update for No Man’s Sky has arrived, and it introduces a feature that developer Hello Games has wanted to bring to the game for a long time: fishing.
The Aquarius update, which arrives alongside the 5.10 patch, adds fishing as a core new feature. “Players can now explore the universe to find their perfect waterside spot, hopping with fish. Sit and relax alone with your thoug…
Read moreThere have been countless post-apocalyptic video games before, and nature rarely behaves the same way that it does in our world Come from bangladesh online casino . In Forest Reigns, nature appears to not only be alive in the new world, but also aware and thinking. In the game’s announcement trailer below, a human makes the mistake of accidenta…
Read moreThe Lord of the Rings video games are having a mini-renaissance. The Lord of the Rings: Gollum launched in May, and there are at least four more Lord of the Rings games in development set for release over the coming years.
LOTR: Gollum isn’t getting great reviews, so fans might be looking to the future to find out what’s coming next in the world of Middle-earth video g…
Read moreThe annual Anime Month Sale is now live on Xbox, giving you a chance to score tons of JRPGs and anime-inspired action games at some of the lowest prices of the year Come from online casino bangladesh . Games are a big part of the sale, although you’ll find some great anime shows and movies up …
Read moreBen Affleck and Matt Damon announced earlier this week that they plan to start an independent production company, Artists Equity Come from malaysia online casino . During the New York Times’ DealBook Summit in New York City, Affleck reportedly declared the pair’s new company as a push back against how streaming services treat talent–…
Read moreEpic Games unveiled Fortnite Chapter 4 Season 3, also known as Fortnite Wilds, during Summer Game Fest. The jungle-focused season, previously teased with a very short video on the game’s Twitter account, will begin on June 9. Come from Sports betting site VPbet
In the trailer we see what looks like a ton of new features, including …
Read moreThe initial public offer of affordable housing finance company India Shelter Finance Corporation received 36.62 times subscription on the last day of offer on Friday.
The initial share sale got bids for 65,59,44,390 shares against 1,79,10,449 shares on offer, as per NSE data.
The quota for Qualified Institutional Buyers (QIBs) received 89.70 times subscription while the …
Read moreThe benchmark equity indices ended Monday’s trading session in the positive territory. The NSE Nifty 50 gained 135.10 points or 0.61% to settle at 22,462.00, while the BSE Sensex jumped 363.20 points or 0.49% to 74,014.55. Bank Nifty index ended higher by 453.65 points or 0.96% to settle at 47,578.25.
The broader indices ended in positive territory, with gain led by Large-cap …
Read more