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Godrej Properties shares up 2% on acquiring land parcel in Raipur; details
At 9:45 AM, Godrej Properties shares were trading 0.64 per cent higher at ₹2,303.95 per share. In comparison, BSE Sensex was trading 0.09 per cent lower at 82,556.98 levels. CATCH STOCK MARKET LIVE UPDATES TODAY
Why did Godrej Properties shares rise in trade?
Shares of Godrej Properties rose after the company announced its foray into Raipur with the acquisition of approximately 50 acres of land. The project will primarily feature premium plotted residential units, with an estimated saleable area of around 9.5 lakh square feet.
The land is strategically located near Old Dhamtari Road, an emerging real estate hotspot with excellent connectivity to Central Raipur, the railway station, and Swami Vivekananda Airport, the company revealed in a statement.
The region is witnessing rapid urbanisation, supported by strong social infrastructure, including top educational institutions, healthcare, and retail facilities.
Additionally, its integration with the Atal Path (Raipur–Naya Raipur Expressway) and proximity to the upcoming Raipur–Hyderabad and Raipur–Visakhapatnam expressways enhance the location's attractiveness for residential development.
'We are delighted to announce our entry into the dynamic city of Raipur. This acquisition marks another significant step in our expansion journey as we look to strengthen our presence in emerging real estate markets across India. Raipur, with its growing demand for residential plotted developments and strong infrastructure growth, presents an exciting opportunity. 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 Gaurav Pandey, MD and CEO, Godrej Properties. ALSO READ |
About Godrej Properties
Godrej Properties, part of the Godrej Industries Group, is among the leading real estate developers. It is known for developing residential, commercial, retail, and IT projects across India. In FY24, the company emerged as India's largest real estate developer by residential sales value.
The market capitalisation of Godrej Properties is ₹69,455.12 crore, according to BSE. The company falls under the BSE200 category.
The 52-week low of Godrej Properties stock is ₹1,869.50 while its 52-week high is ₹3,400 per share.
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