Godrej Inds sells 2.01% stake in realty arm for Rs 132 cr

Godrej Industries has sold over 40 lakh shares or 2.01 per cent in realty arm Godrej Properties for Rs 132.18 crore in open market transactions.
In a filing to BSE, Godrej Properties informed that its promoter Godrej Industries has sold 40,05,000 shares at around Rs 330 apiece for about Rs 132.18 crore.
Post share sale, Godrej Industries' stake in Godrej Properties has come down to 53.09 per cent from 55.1 per cent.
Promoters, including Godrej Industries, held 74.86 per cent in Godrej Properties at the end of the September quarter.
Yesterday, Kotak Mahindra Bank acquired 27,46,043 shares of Godrej Properties in a bulk deal for Rs 90.61 crore.

Godrej Properties' share price rose by 2 per cent today to close at Rs 341.50 on BSE.

The real estate firm is developing residential, commercial and township projects spread across 110.30 million sq ft in 12 cities across the country.
Earlier this month, it had sold 300 flats worth over Rs 700 crore in just a week at its project in Vikhroli, Mumbai, even as the housing segment is facing huge demand slowdown.
On the back of BKC deal, the company has achieved a sales booking of over Rs 3,200 crore in the first half of the fiscal, crossing Rs 2,681-crore sales booking in the entire 2014-15 fiscal.

The company in September had sold 4.35 lakh sq ft office space to Abbott India in 'Godrej BKC' project at Bandra Kulra Complex (BKC), Mumbai for Rs 1,479 crore.