Godrej Properties to develop residential project in Thane

The company has added a 65,000 square meter project in Ghodbunder Road, Thane, near Mumbai. The project will be developed as a modern residential apartments complex.

The land for the project is spread across 4 acres which will be purchased in partnership with Godrej Fund Management. The site is located in close proximity to civic infrastructure including schools, hospitals and malls. The company will build apartments of various configurations with modern amenities to deliver a outstanding living space for its residents.

For the most recent quarter Q1FY19, Godrej Properties registered a 65 per cent dip in consolidated net profit at Rs. 34.3 crore as compared to Rs. 99.17 crore in the same period last year. However, Godrej Properties' total income increased close to 19 per cent to Rs. 1,066.73 crore in Q1 as compared to Rs. 896.71 crore in the corresponding period a year ago.

On Monday, the stock of Godrej Properties Limited was at Rs. 532.10 per share, down by 1.39 per cent at 14:33 hours, when the BSE Sensex was at 36,522.93, down by 129.13 points or 0.35 per cent.