Godrej Properties gains on adding new project in Gurgaon

Godrej Properties is currently trading at Rs. 216.00, up by 1.00 points or 0.47% from its previous closing of Rs. 215.00 on the BSE. The scrip opened at Rs. 217.80 and has touched a high and low of Rs. 220.15 and Rs. 215.10 respectively. So far 21,000 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 296.65 on 09-May-2013 and a 52 week low of Rs. 153.90 on 30-Jan-2014. Last one week high and low of the scrip stood at Rs. 227.00 and Rs. 207.00 respectively. The current market cap of the company is Rs. 4,303.00 crore. The promoters holding in the company stood at 74.96% while Institutions and Non-Institutions held 13.95% and 11.09% respectively. Godrej Properties (GPL), the real estate development arm of the Godrej Group, has added a new project in Sector 79, Gurgaon to its development portfolio. The land parcel measures 17.4 acres and the project will be developed as a premium residential housing project. The expected saleable area in the project is 1.6 million square feet. This project is strategically located in Sector 79 in Gurgaon, at the foothills of the Aravalis. The upcoming project will have great connectivity through National Highway-8 and proposed Southern Periphery Road. This will be GPL’s fifth project in NCR. The project will be developed by Godrej Properties through the residential investment platform that Godrej Properties established in FY13. This is the third project added through this platform.