Godrej Properties Ltd. has won the bid to develop two residential plots in Gurugram, valued at Rs 515 crore. The land parcels have an estimated revenue potential of over Rs 3,400 crore.
The realty firm said that it secured the letter-of-intent to develop two group housing plots at premium locations in Gurugram through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
One plot measuring 3.6 acres is located in the Golf Course Road micro-market. Another parcel spanning 1.97 acre is located in Sector 39 with proximity to NH 48.
"We have witnessed strong demand for our projects in the NCR market... these two new acquisitions will further strengthen our development portfolio in the NCR," said Gaurav Pandey, managing director and chief executive officer, Godrej Properties.
In the last fiscal, Godrej Properties had bought two prime parcels of 5.15 acres and 2.76 acres in the Golf Course Road micro-market from HSVP at auction and plans to launch both of these projects during this fiscal.
Godrej Properties stock rose as much as 1.16% in early trade to Rs 2,943 apiece on the NSE. It was trading 0.15% lower at Rs 2,904.7 apiece, compared to a 0.29% advance in the benchmark Nifty 50 as of 10:49 a.m.
It has risen 76% during the last 12 months and 44% on a year-to-date basis. The relative strength index was at 44.
Twelve out of the 20 analysts tracking the company have a 'buy' rating on the stock, three suggest a 'hold' and five have a 'hold', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 12%.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.