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.
The Nifty50 is expected to open lower with a negative bias on Thursday tracking weak handover from Wall Street and muted trend seen in other Asian markets.
"This project will offer approximately 70,500 square meters (approximately 7.5 lakh sq. ft.) of saleable area and will be developed as a modern group housing development," Godrej Properties said in a statement.
The RBI MPC is likely to continue slightly hawkish pause. "We continue to expect the RBI to persist with its slightly hawkish pause in its policy, on the side of caution. Inflation is likely peaking off to 5 percent in January from 5.2 percent in December with the vegetable price spike is expectedly reversing," BofAML said in a report.
Morgan Stanley has upgraded Ashok Leyland to Overweight from equal-weight and raised target price to Rs 151 from Rs 101.30 per share.
The market breadth was in favour of the declines on Monday morning with 120 stocks advancing while 1532 stocks declined and 382 stocks remained unchanged. On the BSE, 266 stocks advanced while 1960 stocks declined and 79 remained unchanged.
Ashwani Gujral of ashwanigujral.com recommends buying Reliance Industries, ICICI Prudential and Godrej Properties.