Godrej Properties spurts after adding project in Navi Mumbai

Godrej Properties gained 4.37% to Rs 954.45 at 10:21 IST on BSE after the company added a new residential project at Vashi, Navi Mumbai.

The announcement was made after market hours yesterday, 4 April 2019.

Meanwhile, the S&P BSE Sensex was up 120.97 points, or 0.31% to 38,805.69

On the BSE, 79,000 shares were traded in the counter so far, compared with average daily volumes of 98,000 shares in the past two weeks. The stock had hit a high of Rs 967.50 and hit a low of Rs 935 so far during the day.

Godrej Properties announced the addition of a new residential project, in Vashi, Navi Mumbai. Spread across 5 acres, this project will offer approximately 47,000 square meters (approximately 0.50 million square feet) of saleable area comprising mainly of modern residential apartments of various configurations. The site is strategically located in Vashi, Navi Mumbai and offers an extremely well developed social and civic infrastructure with multiple schools, hospitals and residential and commercial spaces in close proximity.

Godrej Properties reported consolidated net profit of Rs 41.63 crore in Q3 December 2018 as compared to net loss of Rs 54.75 crore in Q3 December 2017. Total income rose 53.37% to Rs 472.81 crore in Q3 December 2018 over Q3 December 2017.

Godrej Properties is a real estate developer.

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