Godrej Properties share made a fresh all-time high today after the realty firm said it would develop a residential project in Bengaluru. Godrej Properties stock touched an intraday high of Rs 1,261.6, rising 4.2% against previous close of Rs 1, 210 on BSE. The stock has gained 6.16% in the last 3 days.
Godrej Properties stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The share rose 41.68% in one year and gained 27.12% since the beginning of this year. In a month, the share has climbed 32.04%.
Market cap of the realty firm stood at Rs 31,671 crore. Later, the share closed 3.77% or Rs 45 higher at Rs 1,256 on BSE.
The company made an outright transaction to purchase a well- located land parcel in Whitefield, Bengaluru.
Spread across 18 acres, the project would offer 0.22 million square meters (2.4 million square feet) of saleable area of primarily residential apartments.
"We are happy to add this new project in Bangalore. Bangalore is a key market for us and this project fits well with our strategy of deepening our presence across the country's leading real estate markets," said Pirojsha Godrej, Executive Chairman, Godrej Properties.