Godrej Properties rose 0.95% to Rs 323.80 at 11:00 IST on BSE after the company said it sold over 300 apartments at Godrej Greens in Pune.
The announcement was made before market hours today, 4 January 2017.Meanwhile, the S&P BSE Sensex was up 38.97 points, or 0.15%, to 26,682.21.
On the BSE, so far 5,411 shares were traded in the counter, compared with average daily volumes of 32,049 shares in the past one quarter. The stock had hit a high of Rs 331.50 and a low of Rs 323 so far during the day. The stock had hit a 52-week high of Rs 386 on 9 August 2016. The stock had hit a 52-week low of Rs 266.40 on 29 February 2016.
The stock had outperformed the market over the past one month till 3 January 2017, gaining 6.83% compared with the 1.57% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 8.79% as against Sensex's 5.67% decline.
The mid-cap company has equity capital of Rs 108.18 crore. Face value per share is Rs 5.
Godrej Properties said that it has seen an overwhelming customer response to its project Godrej Greens, which was launched shortly after the government's demonetisation announcement in early November.
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The company announced that it has sold over 300 apartments within two months of launch of its project Godrej Greens in Pune. This represents more than 75% of the 400 apartments that were opened for sale, making this one of the most successful recent residential launches.
On a consolidated basis, net profit of Godrej Properties declined 77.4% to Rs 23.48 crore on 76.6% decline in net sales to Rs 305.60 crore in Q2 September 2016 over Q2 September 2015.
Godrej Properties is a real estate developer.
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