80 per cent return: Godrej Group Unveils GREDCPL; a new chapter in real estate distribution!
GREDCPL is well-positioned to make a significant impact in the real estate distribution market.
On Friday, the shares of Godrej Properties Limited soared by 0.33 per cent. The 52-week high and low are Rs 1,679.30 per share and Rs 1,005.70 per share, respectively on BSE.
Godrej Properties Limited (GPL) announced the incorporation of a new wholly-owned subsidiary, Godrej Real Estate Distribution Company Private Limited (GREDCPL). The incorporation took place on July 20, 2023, with an authorized and paid-up capital of Rs 10,000.
GREDCPL is set to play a crucial role in the real estate sector, specifically as a real estate distribution company. Its primary focus will be on providing marketing, sales, and promotional services for various real estate projects. With this new subsidiary in place, GPL aims to strengthen its position in the real estate industry and enhance its service portfolio.
The acquisition of GREDCPL was accomplished through the subscription of the entire share capital by Godrej Properties Limited, along with its wholly-owned subsidiary, Godrej Projects Development Limited (GPDL), acting as a nominee. This move makes GPL the holder of 100 per cent share capital in GREDCPL, thus classifying it as a related party.
The acquisition consists of 990 shares of Rs 10 each, accounting for 99 per cent, now held by Godrej Properties Limited. Additionally, GPDL holds 10 shares of Rs 10 each, representing the remaining 1 per cent of the paid-up equity share capital as a nominee of the Company.
GREDCPL, as a newly incorporated entity, is yet to commence its business operations. However, with the backing of Godrej Properties Limited, a leading player in the real estate sector, and the support of GPDL, GREDCPL is well-positioned to make a significant impact in the real estate distribution market.
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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. Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry
Over the past five years, the company has achieved an impressive compound annual growth rate (CAGR) of 90.1 per cent in its profit, demonstrating robust and consistent profit growth.
The stock has gained momentum in the past 3 year as it has given more than 81 per cent returns. Keep a close eye on this trending stock.
Disclaimer: The article is for informational purposes only and not investment advice.