Godrej Properties sold more than 1,050 houses worth more than Rs 3,000 crore in just three days. Due to this, excited investors attacked the company’s stock and it reached a new high of 52 weeks.
Real estate company Godrej Properties Ltd has sold more than 1,050 houses worth more than Rs 3,000 crore within three days of launching its new project in Gurugram. After this update of the company, shares of Godrej Property reached a high of Rs 2692. This is its new high of 52 weeks. Around 12 noon the stock was trading up 6.16 percent at Rs 2454.45.
This achievement by Godrej Properties reflects the strong sales momentum in the residential sector. The residential projects launched in Gurugram in the last 18 months have been successful. Apartments there are sold out within a few days of being put up for sale.
The company said in the information given to the stock market, “This has been the most successful project of Godrej Properties so far in terms of value and sales.”
This project is GPL’s largest residential development in Gurugram. Gaurav Pandey, Managing Director and CEO, Godrej Properties, said, “Gurugram is a very important market for Godrej Properties. We will look to further strengthen our presence in Gurugram in the coming years.”
473 percent jump in sales on annual basis
“The company recorded 473 per cent YoY growth in sales in Gurugram in FY 2023-24 and offers a strong base for FY 2024-25,” GPL said. Godrej Properties is part of the business conglomerate Godrej Group. It is one of the leading developers in the country. It primarily develops residential projects in Mumbai Metropolitan Region, Delhi-National Capital Region, Pune and Bengaluru. It has recently entered the Hyderabad market.
