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Time of India
17-07-2025
- Business
- Time of India
Godrej Properties shares in focus after company acquires 50 acres of land in Chhattisgarh
Shares of 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. Live Events 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. Also Read: SBI, Federal Bank among 11 banks that saw NPA improvement in Q4 ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Business Standard
16-07-2025
- Business
- Business Standard
Godrej Properties acquires 50-acre land in Raipur, Chhattisgarh
Godrej Properties said that it has acquired around 50-acres of land in Raipur, Chhattisgarh, to develop a premium plotted residential project. The project is expected to offer an estimated saleable area of around 9.5 lakh square feet. The newly acquired land parcel is strategically located near Old Dhamtari Road, one of Raipurs fastest-growing real estate corridors. The location offers seamless connectivity to key city nodes such as Central Raipur, Raipur Railway Station, and Swami Vivekananda Airport. The area is witnessing rapid development, supported by robust social infrastructure including reputed educational institutions, healthcare facilities, and retail hubs. Connectivity is further bolstered by major infrastructure projects like the Atal Path (RaipurNaya Raipur Expressway) and upcoming expressways linking Raipur to Hyderabad and Visakhapatnam, enhancing the site's appeal for premium residential development. Gaurav Pandey, MD & CEO, Godrej Properties, said, 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 regions evolving aspirations. Godrej Properties is a leading national real estate developer. It is a real estate arm of the Godrej Group. The company currently operates in various cities and focuses on residential, commercial, and township development. The company's consolidated net profit declined 18.9% to Rs 381.99 crore, despite a 48.8% jump in net sales to Rs 2,121.73 crore in Q4 FY25 over Q4 FY24. Shares of Godrej Properties rose 0.77% to settle at Rs 2,289.35 on the BSE.
