Do you own any of these two listed real estate stocks that are coming up with a joint venture?

Today, shares of this company surged 4.95 per cent to Rs 91.25 per share whereas shares of this company surged 2.09 per cent to Rs 1,197.35 per share.

Godrej Residency Private Limited (GRPL), a wholly owned subsidiary of Godrej Properties Ltd (GPL), and Neelkamal Realtors Tower Private Limited (NRTPL), a wholly owned subsidiary of D B Realty LTD, have formed a joint venture to develop property in Mumbai's Byculla Division. The acquisition will be completed by December 28, 2022, with Godrej Properties Ltd owning 50.01 percent of GPRL and Neelkamal Realtors Tower Private Limited owning 49.99 per cent of GPRL, respectively.

D B Realty Ltd was incorporated in 2007 and is engaged primarily in the business of real estate construction, development and other related activities based in and around Mumbai. The corporation has delivered excellent results in both quarterly and annual financial statements with a PE multiple of 14.07. Today, shares of the company saw a spurt in volume by more than 1.80 times on BSE.

Godrej Properties Ltd is one of the leading real estate developers in the country. It currently has around 192 million square feet of developable area in 86 projects across India. The company mainly focuses on four cities, Delhi-NCR, Mumbai, Bengaluru and Pune. According to the quarterly and annual financial statements, the company has positive results with compounded profit growth of 418 per cent trailing 12 months. 

Today, shares of D B Realty surged 4.95 per cent to Rs 91.25 per share and shares of Godrej Properties Ltd surged 2.09 per cent to Rs 1,197.35 per share. D B Realty soared 82.18 per cent so far this year, while Godrej Properties Ltd plunged 37.33 per cent. Investors should keep an eye on these realty stocks.