Multibagger breaks records with over 2,000 homes sold worth Rs 3,150 crore: Stock rallies over 4 per cent!
The stock has experienced significant buying activity, yielding multibagger returns of more than 111 per cent in the last one year.
Today, the shares of Godrej Properties Limited soared by 4.65 per cent. The company's current market capitalization standing at Rs 92,027.12 crore.
Stock performance:
On Tuesday, the stock opened at Rs 3,198, with the previous closing being Rs 3,162.45. The 52-week high and low are Rs 3,337.85 and Rs 1,496.40, respectively as per BSE.
Recent development:
Godrej Properties has sold over 2,000 homes worth more than Rs 3,150 crore in its Godrej Woodscapes project in Whitefield-Budigere Cross, Bengaluru. This marks the company’s most successful launch ever in terms of both value and volume of sales and is the second launch in the past three months to achieve sales of over Rs 3,000 crore.
With the success of Godrej Woodscapes, Godrej Properties has seen over 500 per cent growth in sales in Bengaluru from the previous quarter and has surpassed its full-year sales target for FY24 in South India within the first quarter.
Godrej Woodscapes is the second launch in Q1 FY25 to achieve sales of over Rs 2,000 crore. In the last four quarters, Godrej Properties has had six launches that sold inventory worth over Rs 2,000 crore each during their launches. These include Godrej Jardinia in Noida (Q1 FY25), Godrej Zenith in Gurgaon (Q4 FY24), Godrej Reserve in Kandivali (Q4 FY24), Godrej Aristocrat in Gurgaon (Q3 FY24), and Godrej Tropical Isle in Noida (Q2 FY24).
Godrej Properties has a strong pipeline of projects for FY25, including several new launches in Bengaluru and a strategic market entry into Hyderabad, which will significantly enhance the company’s presence in South India.
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About the Company:
Godrej Properties Limited (GPL) is the real estate development branch of the Godrej Group, a successful Indian conglomerate founded in 1897. Godrej Properties incorporates the Godrej Group's core values of innovation, sustainability, and excellence into the real estate sector.
Furthermore, the stock has experienced significant buying activity, yielding multibagger returns of more than 111 per cent in the last one year.
Disclaimer: The article is for informational purposes only and not investment advice.