Godrej Properties to collaborate in six new projects in Pune
Godrej Properties, the Mumbai-based real estate developer, informed the bourses that it has joined hands with a Pune-based developer to develop six projects across Pune. The said partnership will collaborate in different asset classes including group housing projects, plotted development, mixed-use development and township projects.
Under this partnership, the total land which would be developed will be around 300 acres located across the prime markets of west and east Pune. These six projects will offer a total saleable area of over 23 lakh square metres which would be developed in multiple phases over the next 10 years.
The company has recently reported its December quarter results. In Q3FY19, it has registered a massive jump in the area sold by 162 per cent on YoY basis and 96 per cent on QoQ basis. Also, it has launched 6 new projects across 5 cities during the recent quarter.
On Monday, the stock of Godrej Properties opened at Rs. 746.05 per share and made an intraday high and low of Rs. 765.75 and Rs. 744 on the BSE. At 11:44 hours, the stock was trading at Rs. 763.85, up by almost 2.33 per cent. The stock had hit its 52-week high of Rs. 917 on May 8, 2018 and its 52-week low of Rs. 462 on October 10, 2018 on the BSE.