Godrej Properties gains on strong response for Gurgaon project

Godrej Properties is trading higher by over 3% at Rs 557 after the Mumbai-based real estate developer said it sold over one million sq ft of space in its residential project in Gurgaon in a single day.

“The Godrej Group Company had on Tuesday launched the 21- acre housing project in Gurgaon comprising 1,200 flats with an investment of up to Rs 600 crore,” the PTI report suggests.

The company expects revenue of Rs 1,200 crore from this project over the next five years, added report.

The stock opened at Rs 547 and touched high of Rs 569 on the NSE. A combined 18,451 shares have changed hands on the counter in opening deals.