Godrej Properties surges on sale of 1,000 apartments in 2 months

NEW DELHI: Shares of Godrej Properties surged as much as 7 per cent in early trade on Wednesday after the real estate company informed bourses that it has sold over 1,000 apartments across three new project launches - Godrej Origins at The Trees in Mumbai, The Suites at Godrej Golf Links in Greater Noida and Godrej 24 at Hinjawadi, Pune since March 2017.

The scrip was trading 6.91 per cent up at Rs 540 around 9.30 am (IST). Shares of the company opened at Rs 512.90 and touched an intraday high and low of Rs 546.35 and Rs 512.90, respectively, in trade so far. Benchmark BSE Sensex was trading 39.20 points, or 0.13 per cent, up at 29,960 at around the same time.

Pirojsha Godrej, Executive Chairman, Godrej Properties said, “We are very pleased with this strong response to our new launches across the country. We look forward to building on this momentum in the months ahead.”

Of late, the company had also announced that it has partnered with Taj Hotels Palaces Resorts Safaris to develop a world class Taj brand hotel at its flagship project, The Trees, in Vikhroli, Mumbai. The Taj at The Trees will offer around 150 guest rooms and suites along with world class dining, entertainment and conferencing facilities.

The BSE Realty index was trading 2.58 per cent up at 2012 in morning deals. Other realty stocks such as Prestige, Oberoi Realty, DLF, Sobha, HDIL, Indiabulls Real Estate and Unitech were also trading higher by 3.67 per cent, 2.43 per cent, 1.87 per cent, 1.05 per cent, 0.84 per cent, 0.80 per cent and 0.53 per cent, respectively.