Godrej Properties gained 1% to Rs 367.50 at 10:00 IST on BSE after the company announced that it has launched Godrej Emrald, a premium residential project at Ghodbunder Road, Thane.
The announcement was made before market hours today, 26 August 2016.Meanwhile, the BSE Sensex was up 58.78 points, or 0.21%, to 27,894.69.
On BSE, so far 418 shares were traded in the counter, compared with average daily volume of 44,456 shares in the past one quarter. The stock hit a high of Rs 368.55 and a low of Rs 366.20 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 underperformed the market over the past one month till 25 August 2016, falling 1.03% compared with 0.92% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 13.53% as against Sensex's 7.55% rise.
The mid-cap company has equity capital of Rs 108.18 crore. Face value per share is Rs 5.
Godrej Properties said that the project is spread across 6.25 acres and offers a total saleable area of approximately 1.25 lakh square meters or 1.35 million square feets. The first phase of the project will consist of three high rise residential towers.
Godrej Emrald is a joint development project, being developed by Godrej Properties in partnership with Vihang Group, a real estate developer in Thane. This is the first project Godrej Properties has launched that is part of the $275 million Godrej Residential Investment Platform 2, which it announced in March 2016.
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 a real estate company.
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