Godrej Properties gains on securing sales worth Rs 575 cr in a day, hits all-time high

Godrej Properties rose 1.77% to Rs 1,755.75 after the real estate firm achieved sales of Rs 575 crore in a single day at the launch of the second phase of its project Godrej Woods in Noida (Uttar Pradesh).

Godrej Properties, a Mumbai-based real estate developer, received a strong customer response to its forest-themed phase of Godrej Woods, named Evergreen, taking the total sales in the project in the past six months to approximately Rs 1,140 crore. Godrej Properties announced that it has sold 340 homes with an area of more than half a million square feet on the first day of launch.

Mohit Malhotra, the managing director (MD) and chief executive officer (CEO) of Godrej Properties, said, "We are delighted with the response to Godrej Woods. Noida is as an important city for our company and we hope to build on this momentum in the years ahead. We will do everything possible to ensure we deliver an outstanding project for all our customers at Godrej Woods."

Godrej Properties entered the NCR Market in 2010 and has until now added 17 projects across 5 cities with 6 projects having already been delivered.

Godrej Properties' consolidated net profit stood at Rs 17.01 crore in Q1 June 2021 (Q1 FY22) as compared to a net loss of Rs 19.26 crore in Q1 June 2020 (Q1 FY21). Net sales jumped 19.2% to Rs 86.16 crore in Q1 FY22 from Rs 72.29 crore in Q1 FY21.

The scrip hit a record high of Rs 1,764.10 during intraday trade. Godrej Properties is engaged in construction and real estate development.

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