Godrej Properties shares surge 5% after firm sells Rs 2,000-crore homes at launch of luxury project in Noida

Godrej Properties shares surged nearly 5 percent on April 2, a day after the company announced that it has sold 275 homes worth over Rs 2,000-crore at the launch of its luxury project named 'Godrej Riverine' in Noida. The shares of the Mumbai-based real-estate developer were trading at around Rs 2,140 apiece in the afternoon.

In an exchange filing, Godrej Properties announced that its project is located in Noida's Sector 44, which is one of the key micro markets in the city. The project is spread across 6.46 acres of land and comprises luxury residential apartments of varied configurations. "With its well-planned infrastructure, wide roads, and proximity to Delhi, Noida offers a high-quality lifestyle and good connectivity," the company said.

According the company's website, the price of 3 BHK apartments at the project starts from Rs 6.40 crore, while the same of 4 BHK apartments begins from Rs 7.35 crore.

Speaking about the launch, Godrej Properties CEO and managing director Gaurav Pandey said: "We are delighted with the overwhelming response to our luxury project, Godrej Riverine in Noida. We extend our sincere gratitude to our customers and all stakeholders for their trust and confidence in Godrej Properties. We remain committed to delivering an exceptional living experience at this development."