Godrej Properties down, firm acquires another land parcel in Bengaluru

Godrej Properties down, firm acquires another land parcel in Bengaluru

The share touched a 52-week high of Rs 2,331 on January 15, 2024 and a 52-week low of Rs 1,005.70 on March 29, 2023

Godrej Properties

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Godrej Properties shares were down marginally at Rs 2,298 in the opening trade on January 17 after the developer announced that it acquired around one acre of land in Bengaluru to build apartments, the second such purchase this month.

At 9.24 am, Godrej Properties was quoting at Rs 2,298.40, down Rs 5, or 0.22 percent, while the Nifty was down 228.30 points or 1.04 percent at 21,804.

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It acquired a one acre of land parcel in Yeshwanthpur, having a developable potential of approximately 1.40 lakh square feet saleable area, through an outright purchase for the development of premium residential apartments, the company said.

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Earlier in this month, the company acquired a four-acre land parcel in the same area for a luxury housing project, which is estimated to have a developable potential of about 0.7 million square feet of saleable area.

Godrej Properties said that the project has an “estimated revenue potential of Rs 1,000 crore.

The share touched a 52-week high of Rs 2,331 on January 15, 2024 and a 52-week low of Rs 1,005.70 on March 29, 2023. It is trading 1.4 percent below its 52-week high and 128.54 percent above its 52-week low.

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