Godrej Properties Shares In Focus After Acquisition Of 10 Acres Land In Bengaluru; Details – News18
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Godrej Properties will be in focus on Monday following its acquisition of approximately 10 acres of land in Yelahanka, Bengaluru
Godrej Properties
Godrej Properties will be in focus on Monday following its acquisition of approximately 10 acres of land in Yelahanka, Bengaluru. Based on current business assumptions, the company estimates that the project could generate revenues of around Rs 2,500 crore.
In its official release, the company stated, “We have acquired ~10 acres of land in Yelahanka, Bengaluru, with an estimated developable potential of ~1.5 million square feet of saleable area for residential development, which is expected to generate revenue of ~Rs 2,500 crore.”
Earlier this month, Godrej Properties cancelled its agreement with TCM (formerly known as Travancore Chemical & Manufacturing Co. Ltd.) for the development of a land parcel in Thrikkakara, Kochi.
In February, the company achieved a significant milestone by selling over Rs 1,000 crore worth of inventory in just four months at the Godrej Evergreen Square project in Hinjewadi, Pune, shortly after acquiring the land.
Godrej Properties Q3 Results
The company’s standalone net profit for the quarter fell over 66% to Rs 34.85 crore from Rs 103.36 crore in the same period last year. Sequentially, profit declined more than 83% from Rs 206.30 crore in the September quarter.
Revenue for the quarter stood at Rs 968.9 crore, up from Rs 330.4 crore in the year-ago period.
Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) stood at Rs 27.6 crore, compared to an EBITDA loss of Rs 41.5 crore in the same period a year ago. The company’s EBITDA margin for the quarter was 2.9%.
Godrej Properties’ stock reached a 52-week high of Rs 3,400.00 on September 26, 2024, and a 52-week low of Rs 1,903.85 on February 28, 2025.
Currently, the stock is trading 37.05% below its 52-week high and 12.42% above its 52-week low.
The company’s market capitalization stands at Rs 64,461.09 crore.
However, the stock has declined 33% over the past six months.
