Godrej Properties gains after good sales at Godrej Golf Links township

Godrej Properties rose 1.39% to Rs 371.05 at 9:34 IST on BSE after the company said it sold over 6 lakh square feet of villas at its Godrej Golf Links township.

The announcement was made before market hours today, 2 November 2016.

Meanwhile, the BSE Sensex was down 288.41 points, or 1.03%, to 27,588.20.

On BSE, so far 8,793 shares were traded in the counter, compared with average daily volume of 38,701 shares in the past one quarter. The stock hit a high of Rs 372.30 and a low of Rs 364 so far during the day. The stock hit a 52-week high of Rs 386 on 9 August 2016. The stock hit a 52-week low of Rs 266.40 on 29 February 2016. The stock had outperformed the market over the past 30 days till 1 November 2016, rising 4.07% compared with 1.30% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 3.96% as against Sensex's 0.65% rise.

The mid-cap company has equity capital of Rs 108.18 crore. Face value per share is Rs 5.

Godrej Properties (GPL), one of India's leading real estate developers, announced that it has sold over 60,000 square meters (6 lakh square feet) of villas with a booking value well in excess of Rs 300 crore in a single day at the launch of its first project, Crest, at its 100 acre township Godrej Golf Links in Greater Noida. Godrej Golf Links, a golf and recreational residential township spread across 100 acres, will house a community of residential villas, a 9-hole golf course, and a wide-range of recreational features. The first project in the township, Crest, contains villas of various sizes and configurations that are designed to offer spectacular views of the sprawling golf course, green landscapes, and recreational zones.

Godrej Properties' consolidated net profit rose 9.2% to Rs 43.48 crore on 87.6% rise in net sales to Rs 234.76 crore in Q1 June 2016 over Q1 June 2015.

Godrej Properties is currently developing residential, commercial and township projects spread across approximately 1 1.98 million square meters (129 million square feet) in 12 cities.

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