The total land that will be developed comprises over 300 acres located across the prime markets of west and east Pune.
This portfolio would comprise of various asset classes including group housing projects, plotted development, mixed use development and township projects.
The breadth of the market favoured the advances with 1010 stocks advancing and 667 declining while 379 remained unchanged. On the BSE, 1286 stocks advanced, 1015 declined and 149 remained unchanged.
The research firm believes that the market risk is on the downside in near term, and there could be a lag in capex and housing recovery as well.
Deutsche said the impact of joint venture with Hero Cycles on near-term financials would be limited.
The joint venture will develop, lease, and manage around 1 million square feet of prime office and retail space on the 4-acre property.
During 2017-18 fiscal, Godrej Properties' sales bookings stood at record Rs 5,083 crore.
Godrej Properties added 2 new projects with 2.9 million square feet saleable area in quarter ended September 2018.
This deal is an outright purchase of land along with Godrej Fund Management, the Mumbai-based developer said.
Godrej Properties, the real estate arm of the Godrej group, said it has added a new luxury residential project in Noida, in the centrally located Sector 43.
Godrej Properties reported a 35 percent year-on-year fall (down 21 percent QoQ) in sold area and 44 percent YoY (down 22 percent QoQ) decline in booking value for the quarter.
Total income, however, rose 18.96 per cent to Rs 1,066.73 crore in the first quarter of this fiscal from Rs 896.71 crore in the corresponding period of the previous year, Godrej Properties said in a regulatory filing.
Godrej Properties has reported a consolidated total income from operations of Rs 996.73 crore and a net profit of Rs 34.30 crore for the quarter ended Jun-2018
Prashanth Tapse of Mehta Group said the impact of GST on macroeconomic indicators is likely to be very positive in the medium-term
"The total capital raised from this issue is Rs 1,000 crore," the company said in a statement.
Godrej Properties Ltd (GPL) achieved a total sales bookings of Rs 5,083 crore during last fiscal.
JM Financial is bullish on Godrej Properties has recommended buy rating on the stock with a target price of Rs 880 in its research report dated May 04, 2018.
The market breadth was in favour of the advances with 830 stocks advancing while 742 declined and 465 remained unchanged. On the other hand, in the BSE, 1031 stocks advanced and 856 declined and 69 remained unchanged.
The top Nifty gainers included GAIl India which was up 3 percent followed by M&M and Axis Bank which added 2 percent each. The other gainers included Hindalco Industries and ICICI Bank.
"The board has approved preferential allotment of shares to an investment company managed by GIC to raise Rs 1,000 crore," Godrej told PTI.
Godrej sold 14.7 lakh square feet area during the quarter, a growth of 150 percent over 5.9 lakh square feet sold in same period last fiscal while on sequential basis there was 3 percent increase in area sold.