Godrej Properties expands portfolio in Noida

Leading realtor, Godrej Properties Limited (GPL) has added a residential project in Sector 43 Noida. The project is near Noida Golf Course.

The centrally-located high-end residential project has access to good physical and social infrastructure, said the company's filing to the bourses. The company plans to develop the 2.2 million sq. ft. saleable area into a premium housing complex in partnership with the Shipra Group, a well-known real estate developer in north India.

With this addition, GPL has four projects in Noida and 13 project within the NCR region.

For Q1FY19, the company registered a 65 per cent decline in consolidated net profit at Rs. 34.3 crore as against Rs. 99.17 crore in the same period a year ago. However, the company's total income grew close to 19 per cent to Rs. 1,066.73 crore in Q1 as against Rs. 896.71 crore in the corresponding period a year ago.

On Monday, the stock of Godrej Properties Limited was at Rs. 566.00 per share, down by 1.48 per cent at 9:27 hours, when the BSE Sensex was at 36,762.04, down by 79.56 points or 0.22 per cent.