Godrej Properties gains on entering into agreement with SUN-Apollo

30 Dec 2011 Evaluate

Godrej Properties is currently trading at Rs 622.00, up by 3.00 points or 0.48% from its previous closing of Rs 619.00 on the BSE.

The scrip opened at Rs 626.10 and has touched a high and low of Rs 639.25 and Rs 622.00 respectively. So far 2744 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 845.00 on 12-Jul-2011 and a 52 week low of Rs 545.05 on 02-Feb-2011.

Last one week high and low of the scrip stood at Rs 645.95 and Rs 611.00 respectively. The current market cap of the company is Rs 4390.07 crore.

The promoters holding in the company stood at 83.79% while Institutions and Non-Institutions held 7.38% and 8.83% respectively.

Godrej Properties (GPL), the real estate development arm of the Godrej Group, has entered into an agreement with SUN-Apollo India Real Estate Fund, LLC acting through its affiliates/companies (SUN-Apollo). Through this agreement, GPL has sold 49% equity stake in its subsidiary, Godrej Premium Builders (GPBPL). SUN-Apollo has invested Rs 45 crore out of which Rs 18.3 has been paid to GPL for sale of stake and Rs 26.7 crore has been invested in GPBPL.

Recently, Godrej Properties had assigned all the rights and obligations of the company under the development agreement entered with Magic Info Solutions dated August 05, 2011, to its subsidiary Godrej Premium Builders, for developing the project located at Gurgaon village, Gurgaon district in residential sector 104 of the Gurgaon-Manesar urban complex, Haryana.

Godrej Properties is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, its business focuses on residential, commercial and township developments. It is a fully integrated real estate development company involved in all activities associated with the development of residential and commercial real estate.

Godrej Properties Share Price

2701.35 11.20 (0.42%)
21-Nov-2024 16:59 View Price Chart
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