Godrej Properties shares in news as Rs 2,600 crore worth homes sold at Gurugram's Godrej Aristocrat

Shares of Godrej Properties Ltd would be in focus on Tuesday morning after the real estate developer said it has sold inventory worth over Rs 2,600 crore in its project, Godrej Aristocrat, located in Sector 49 on Golf Course Extension Road, Gurugram.

Godrej Properties claims that the project is most successful launch ever in terms of the value of sales achieved, surpassing the previous best ever launch worth over Rs 2,000 crore at its project, Godrej Tropical Isle in Noida last quarter.

In a filing to BSE, Godrej Properties said the Golf Course Extension Road is an established residential location in Gurugram, which provides access to high-quality social infrastructure and is in close proximity to established commercial establishments on Golf Course Road, Golf Course Extension Road, and Sohna Road.

It said the area provides good connectivity to key retail, medical, and educational infrastructure and is in proximity to the proposed metro corridor, thereby further improving connectivity across the Gurugram metropolitan area.

MD & CEO Gaurav Pandey said, “We are delighted with the response to our project, Godrej Aristocrat. We’d like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties. We will do our best to ensure Godrej Aristocrat offers its residents an outstanding living experience."

Pandey said Gurugram is an extremely important market for Godrej Properties and that his company hopes to launch four new projects in Gurugram in 2024.   Godrej Properties shares are up 59 per cent in 2023 so far. The realty stock is up 7 per cent in the last one month.