Godrej Properties surges 6% after launching new residential projects

Godrej Properties has also increased its equity stake in Wonder Space Properties Private Limited from 25.1 per cent to 96.03 per cent

Shares of Godrej Properties surged 6 per cent to hit its fresh high of Rs 968 in early morning trade on the BSE on Friday after the Mumbai-based real estate developer announced the addition of a new residential project, in Vashi, Navi Mumbai.

Earlier on April 3, Godrej Properties had said that it had entered into a joint venture with a renowned developer to develop a 4.25 acres sea-facing property in the prime suburban micro-market of Sandra West, Mumbai.

The project will offer approximately 1 lakh square meters (approximately 1.1 million square feet) of saleable area and will be developed