Moneycontrol
Last Updated : Feb 04, 2019 10:01 AM IST | Source: Moneycontrol.com

Godrej Properties gains 1% as co to develop 6 projects in Pune

This portfolio comprises various asset classes including group housing projects, plotted development, mixed use development and township projects.

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Share price of Godrej Properties gained over 1 percent as company is going to develop six new projects in Pune.

The company has entered into an equity investment platform in partnership with a Pune-based developer to develop six projects across Pune.

This portfolio comprises various asset classes including group housing projects, plotted development, mixed use development and township projects.

The total land that will be developed comprises of over 300 acres located across the prime markets of west and east Pune. These six projects will offer a total saleable area of over 23 lakh square metres (approximately 25 million square feet), scheduled to be developed in multiple phases over the next 10 years, as per company release.

Pirojsha Godrej, Executive Chairman, Godrej Properties said, “This single partnership will dramatically enhance our presence in the Pune market, cementing our presence across key growth areas within the city."

"We believe this sets us up well to establish a leadership position in Pune's residential market and fits perfectly with our strategy of growing our business across the country's leading real estate markets, he added.

At 09:58 hrs Godrej Properties was quoting at Rs 756, up Rs 9.65, or 1.29 percent on the BSE.

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First Published on Feb 4, 2019 10:01 am
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