The shares of the real estate firm, Godrej properties on Monday opened at Rs 3,205.00 but showed a minor dip by 10:32 AM IST, trading at Rs 3,177.20, a decrease of 0.13 per cent.
As of 10:41 am IST, the shares of the company regained to green, trading at Rs 3,189.60, up by 0.27 per cent.
Share performance of Godrej properties |
Investors are closely watching the company, as it prepares to announce its quarterly results later today. This announcement could be a pivotal moment for the stock, given the current fluctuations.
Share performance of Godrej properties |
Godrej Properties Enters Indore
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In a latest development, the real estate firm through an exchange filing today announced that it has entered into the Indore real estate market and has acquired a substantial 46-acre land parcel in the city.
The newly acquired land is located just off the Indore-Ujjain Road - an area poised for significant development.
Moreover, this corridor is slated to be upgraded to a 6-lane highway, increasing the connectivity and making it an attractive area for both residential and commercial projects.
As per the regulatory filing, the company added that the acquired land will be focused on developing plotted residential units, with an estimated saleable area of approximately 1.16 million square feet.
The location also attracts key landmarks such as Indore International Airport, Indore Junction railway station, educational institutions, and healthcare facilities.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are happy to announce our entry in Indore, Madhya Pradesh. Residential plotted development has gained significant traction in recent years and the Indore-Ujjain Road is a promising micro-market to expand our presence in this space. This aligns well with our ongoing growth strategy of entering fastgrowing cities from a plotted development perspective. We will aim to build an outstanding sustainable community that delivers long-term value to its residents and taps into Indore's growth potential.”
