Godrej Properties shares in focus after company acquires 50 acres of land in Chhattisgarh
Godrej Properties
are set to be in focus on Thursday, July 17, after the Mumbai-based developer announced its entry into Raipur through the acquisition of 50 acres of land for a
premium plotted residential project
.
The planned development, located near Old Dhamtari Road, a fast-developing real estate corridor, will offer an estimated saleable area of approximately 9.5 lakh square feet, the company said in a press release issued after market hours on Wednesday.
'This acquisition marks another significant step in our expansion journey as we look to strengthen our presence in emerging real estate markets across India,' said Gaurav Pandey, MD & CEO of Godrej Properties.
The company noted that the site benefits from strong infrastructure tailwinds, including proximity to the Raipur Railway Station, Swami Vivekananda Airport, and connectivity via the Atal Path (Raipur–Naya Raipur Expressway). It is also located near the upcoming Raipur–Hyderabad and Raipur–Visakhapatnam expressways.
'This acquisition also aligns strategically with our focus on entering high-growth cities through plotted developments. We look forward to developing a quality plotted township that creates long-term value for its residents, aligned with the region's evolving aspirations,' said Pandey.
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Share performance and technical picture
Shares of Godrej Properties have gained 5.3% so far in 2025. The stock is up 7.3% in the past three months and 1% over the last month, but has declined 1.1% in the past week.
From a technical perspective, the stock is trading above five of its eight key simple moving averages (5-day, 10-day, 50-day, 100-day, and 150-day SMAs), but remains below the 20-day, 30-day, and 200-day SMAs. The Relative Strength Index (RSI) stands at 48, indicating that the stock is neither overbought nor oversold.
Meanwhile, the Moving Average Convergence Divergence (MACD) is at -17.9 and remains below both the center and signal lines, a strong bearish signal for near-term momentum.
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