Real estate stocks: While the brokerage believes ABREL still offered significant upside potential, Prestige Estates is its top real estate pick.
Godrej Properties had participated in an e-auction conducted by the Hyderabad Metropolitan Development Authority (HMDA) for the marquee land parcel in one of Hyderabad’s high-growth real estate destinations.
Godrej Regal Pavilion is among GPL’s largest residential developments in South India, offering a developable potential of 4.14 million sq ft and an estimated revenue opportunity of Rs 3,600 crore.
Gurugram is an extremely important market for Godrej Properties. It is looking to strengthen its presence in the location in the coming years.
HSBC is positive on Godrej Properties for its decentralised and diversified operations. HSBC likes DLF for its very strong brand and balance sheet; Prestige Estates for its impressive land parcels.
Godrej Properties aims to replicate NCR’s success across markets and clock pre-sales of over Rs 10,000 crore in all the four zones over the next two years.
Godrej Properties said the QIP placement committee, at its meeting held today i.e. December 03, approved the issue and allotment of 2,31,21,387 equity shares to eligible qualified institutional buyers at an issue price of Rs 2,595 per equity share.
The plots offer a development potential of 2 million square feet, comprising premium residential apartments of varied configurations, with an estimated combined revenue potential of Rs 3,500 crore, Godrej Properties said.
Godrej Properties delivered exceptional performance with 84 per cent YoY growth in bookings, aided by strong positive reception of new launches in both the NCR and Mumbai, Motilal Oswal said.
Godrej Industries, Godrej Consumer Products, Godrej Properties, Godrej Agrovet and Astec Lifesciences will have Nadir Godrej as Chairperson.
Godrej Properties sold inventory worth Rs 2,690 crore in its project Godrej Reserve located in Kandivali, Mumbai, in Q4 FY24. It also sold inventory worth over Rs 2,875 crore in its Gurugram’s Sector 49 project Godrej Aristocrat.
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