Godrej Properties shares rise 2% on sales of over Rs 1,000 crore at Pune project

Stocks

The share touched a 52-week high of Rs 2,598 and a 52-week low of Rs 1,200.10 on 14 October, 2021 and 06 May, 2021, respectively.

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Godrej Properties share price rose 2.5 percent intraday on March 1 after the company achieved sales worth Rs 1,002 crore in FY22 for its township project Riverhills in Mahalunge, Pune.

Godrej Properties has sold more than 1,550 homes, accounting for over 1.5 million square feet, in the current financial year for this township project.

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

“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,” said Mohit Malhotra, MD and CEO, Godrej Properties.

“We will do our best to deliver an outstanding project for all the residents of this township,” he added.

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At 9:54am, Godrej Properties was quoting at Rs 1,632.20, up Rs 35, or 2.19 percent, on the BSE.

In the last week, company announced sells of 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 FY22 YTD.

Also, the company acquired approximately 50 acres of land in Sonipat, Haryana.

The share touched a 52-week high of Rs 2,598 and a 52-week low of Rs 1,200.10 on October 14, 2021 and May 6, 2021, respectively. It is trading 37.17 percent below its 52-week high and 36.01 percent above its 52-week low.