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Godrej Properties stock climbs over 2% on Rs 1,000-cr sales in Pune project

Godrej Properties stock climbs over 2% on Rs 1,000-cr sales in Pune project

Godrej Properties share rose 2.66% intraday to Rs 1,639.65. Market cap of the firm rose to Rs 45,159 crore on the BSE.

Godrej Properties stock opened higher at Rs 1,601 against the previous close of Rs 1,597.20 on BSE. Godrej Properties stock opened higher at Rs 1,601 against the previous close of Rs 1,597.20 on BSE.

Shares of Godrej Properties rose over 2 per cent today after the real estate developer said it has achieved FY 22 sales worth Rs 1,002 crore for its township project Riverhills in Mahalunge, Pune.

The share climbed 2.66 per cent intraday to Rs 1,639.65 on BSE. Godrej Properties stock opened higher at Rs 1,601 against the previous close of Rs 1,597.20 on BSE. The stock has gained 10.44 per cent in three sessions. The share has gained 30.08 per cent since the beginning of this year and gained 56.68 per cent in one year.

Godrej Properties stock is trading higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages.

A total of 0.48 lakh shares of the firm changed hands, amounting to a turnover of Rs 7.85 crore. Market cap of the firm rose to Rs 45,159 crore on the BSE.

The stock hit a 52-week high of Rs 2,598 on October 14, 2021 and a 52 week low of Rs 1200.10 on May 6, 2021.

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The company has sold 1,550  plus homes accounting for over 1.5 million square feet in the current financial year for Riverhills township project.

Since the launch of first phase in the township in September 2019, Godrej Properties has sold over 3,600 homes with 3.4 million square feet of area and a booking value of over Rs 2,100 crore.

Mohit Malhotra, MD & CEO, Godrej Properties, said, "We are happy with the overwhelming response received for Riverhills, Mahalunge. The customer's confidence is a reflection of the increasing demand for community and integrated developments by reputed developers. We will do our best to deliver an outstanding project for all the residents of this township."

Last week, the firm said they have sold 855 homes worth Rs 1,650 crore within a year of the launch of their project, Godrej Woods in Noida in March 2021. This includes sales of 509 crore in March 2021 and sales of Rs 1,141 crore in FY 22 year to date. The project is located in sector 43 Noida.

Godrej Properties entered the NCR market in 2010 and has until now added 18 residential, commercial, and township projects across 5 cities with 7 projects having already been delivered and 11 in various stages of development.