Godrej Properties hits record high after it buys land parcel in Bengaluru

The Mumbai-based real estate developer said it has bought 18-acre land parcel to develop a residential project in Whitefield, Bengaluru

Shares of Godrej Properties hit a fresh record high of Rs 1,256, up 4 per cent on the BSE, in the intra-day trade on Tuesday after the Mumbai-based real estate developer said it will develop a residential project in Whitefield, Bengaluru. The stock surpassed its previous high of Rs 1,231, touched on December 2, 2020.

"The company has entered into an outright transaction to purchase a well located land parcel in Whitefield, Bengaluru. Spread across approximately 18 acres, this project will offer 0.22 million square meters (2.4 million square feet) of saleable area comprising primarily of residential apartments of various configurations,"