24 Mar , 2025 By : Debdeep Gupta
Godrej Properties shares extended the gains on the sixth day on March 24 as the share price rose more than 2 percent after the company acquired 10 acres of land in Bengaluru.
At 09:18 hrs Godrej Properties was quoting at Rs 2,187.95, up Rs 47.70, or 2.23 percent.
".... announced the acquisition of ~ 10 acres of land in Yelahanka, Bengaluru, which is estimated to have a developable potential of ~ 1.5 million square feet of saleable area, for residential development, with an estimated revenue potential of ~ Rs 2,500 crore," the company said in its release.
Earlier this month, the company canceled the agreement with TCM (formerly known as Travancore Chemical & Manufacturing Co. Ltd.) for the development of a land parcel situated in Thrikkakara, Kochi.
In February, the company sold inventory worth over Rs 1,000 crore in the Godrej Evergreen Square project, located in Hinjewadi, Pune within 4 months of acquiring the land.
The share touched a 52-week high of Rs 3,400.00 and a 52-week low of Rs 1,903.85 on 26 September 2024 and 28 February 2025, respectively.
Currently, the stock is trading 35.65 percent below its 52-week high and 14.92 percent above its 52-week low.
The market capitalization stands at Rs 65,897.75 crore.
The share price shed more than 31 percent in the last six months.
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