Godrej Properties adds new housing project in Mumbai

Written By Unknown on Senin, 06 Oktober 2014 | 21.04

Godrej Properties is currently developing residential, commercial and township projects spread across 103 million square feet in 12 cities.

Realty firm  Godrej Properties Ltd today said it has entered into an agreement with a land owner to develop an affordable housing project near Mumbai.

The project will have 1.3 million sq ft of saleable area. "Godrej Properties has entered into a development management agreement to develop a property situated in Badlapur, Mumbai Metropolitan Region. It will be developed as an affordable housing project," Godrej Properties said in a statement.

Godrej Properties is the real estate arm of the Godrej Group.

"We are happy to add this new project in Badlapur, which strengthens our development portfolio in Mumbai. We will seek to ensure that this project delivers an outstanding lifestyle for all its residents," company's Managing Director & CEO Pirojsha Godrej said.

Godrej Properties is currently developing residential, commercial and township projects spread across 103 million square feet in 12 cities.

Mumbai-based Godrej Properties posted 16 per cent increase in its consolidated net profit to Rs 45.61 crore for the quarter ended June against Rs 39.47 crore in the year-ago period.

Total income rose by 49 per cent to Rs 363 crore in the first quarter of this fiscal compared with Rs 244 crore in the corresponding period of previous year.

During the quarter ended June, Godrej Properties' sales bookings rose to Rs 824 crore from Rs 606 crore in the year- ago period. In volume terms, sales bookings increased to 1.09 million sq ft from 0.6 million sq ft during the period under review.

Godrej Prop stock price

On October 01, 2014, Godrej Properties closed at Rs 235.25, down Rs 0.75, or 0.32 percent. The 52-week high of the share was Rs 262.00 and the 52-week low was Rs 153.90.


The company's trailing 12-month (TTM) EPS was at Rs 6.32 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 37.22. The latest book value of the company is Rs 89.83 per share. At current value, the price-to-book value of the company is 2.62.


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