Shares of this realty company surged after it sold homes worth Rs 2,690 crore

Over the past year, the company's shares have yielded a multibagger return of 137.03 per cent surpassing the BSE Realty's impressive 135.18 per cent increase.

Godrej Properties Limited (GPL), a prominent real estate developer in India, has recently announced the sale of inventory totaling approximately Rs 2,690 crores in its project, Godrej Reserve, located in Kandivali, Mumbai. This achievement marks GPL's most successful launch in Mumbai in terms of both value and volume of sales within just fifteen months of acquiring the land. GPL has sold over 800 homes with a total area of approximately 1.5 million square feet in Godrej Reserve.

Godrej Reserve holds immense potential for development, with approximately 3.72 million square feet of space and an estimated revenue potential of around Rs 7,000 crores. Despite this significant success, there is still a considerable amount of inventory left to be launched, which GPL intends to sell in the coming years. This project stands as one of GPL's largest residential developments, solidifying its presence in the western suburbs of Mumbai.

During the last trading session, the company's stock closed at Rs 2,407.95. Opening at Rs 2,400.05 today, it closed at Rs 2,502.30, reflecting a 3.92 per cent increase. The company's 52-week high stands at Rs 2,541, while its 52-week low stands at Rs 1,053. Currently, the company boasts a market capitalization of approximately Rs 69,500 crores. Over the past year, the company's shares have yielded a multibagger return of 137.03 per cent, surpassing the BSE Realty's impressive 135.18 per cent increase.

Godrej Properties Limited (GPL) is the real estate development arm of the Godrej Group, which was started in 1897 and is today one of India’s most successful conglomerates.

Disclaimer: The article is for informational purposes only and not investment advice.