Godrej Properties up 2% on The Trees' phase 2 launch in Mumbai

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Moneycontrol Bureau

Shares of Godrej Properties gained 2.4 percent intraday Thursday on launch of residential phase 2 of flagship project - The Trees - in Mumbai.

"The Trees is one of the largest real estate projects in Vikhroli, Mumbai. This second phase of residences contains a total of 256 apartments with a saleable area of approximately 32,000 square meters (3,44,000 square feet)," says the Mumbai-based real estate company in its filing.

First phase of project was launched in November 2015. "In first phase, we saw rapid sales with 348 apartments representing 93 percent of total available units sold within one month of launch," the company says.

The Trees mixed-used development contains a commercial precinct spread across 9.4 acres.

At 15:06 hours IST, the scrip of Godrej Properties was quoting at Rs 280.10, up Rs 1.85, or 0.66 percent on the BSE.Posted by Sunil Shankar Matkar