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Godrej Properties shares soar nearly 8%

LiveMint logoLiveMint 03-05-2017 PTI

New Delhi: Shares of Godrej Properties on Wednesday surged nearly 8% after the company said it has sold over 1,000 apartments since March in its three new housing projects at Mumbai, Pune and Greater Noida for around Rs 1,000 crore.

The stock jumped 7.74% to close at Rs 544.20 on BSE. During the day, it soared 15.82% to Rs 585.05. On NSE, shares of the company gained 7% to end at Rs 541.95. In terms of volume, 11.64 lakh shares of the company were traded on BSE and over 78 lakh shares changed hands at NSE during the day.

The company’s market valuation also rose by Rs 846.57 crore to Rs 11,774.57 crore.

The Mumbai-based developer, which is a real estate firm of Godrej group, sold 130 flats in the Mumbai project, 500 flats in Greater Noida and over 450 units in Pune.

When contacted, Godrej Properties executive chairman Pirojsha Godrej said the sales value of these apartments is “almost Rs 1,000 crore”.

Stating that the company has got a strong response to its new launches, he said: “We look forward to building on this momentum in the months ahead”.

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