Shares of this mid-cap real estate company jumped over 6% today
Shares of the company surged after the Q4 Result.
According to the exchange filing by Godrej Properties.
Sales volumes increased by 19% for the fourth quarter of FY23, in terms of area, from 4.42 million square feet (sq ft) to 5.25 million sq ft, while they increased by 40% for the entire financial year, from 10.84 million sq ft to 15.21 million sq ft. Its Q4 FY23 revenue totalled Rs 3,822 crore, representing a sequential growth of 127% and an annual growth of 52%. The company delivered projects totalling more than 10 million square feet across five locations in FY23, including 7.6 million square feet in Q4, for its highest-ever quarterly and annual project deliveries.
With 18 new projects added in FY23, the company's projected saleable area is now close to 29 million square feet, and its estimated booking value is now Rs 32,000 crore, more than double the BD prediction of Rs 15,000 crore for FY23. This comprised five brand-new projects with estimated bookings of Rs 5,750 crore for the fourth quarter.
Share Price Movement of Godrej Properties Ltd
The scrip opened on Monday at Rs 425.00 and touched a high and low of Rs 460 and Rs 424.60, respectively. Its 52-week high stood at Rs 513, whereas its 52-week low was Rs 395.20. The current market cap of the company is Rs 15,081.39 crore. Promoters hold 58.48%, whereas Institutional and non-institutional holdings are 31.97 and 9.56%, respectively.
The Godrej Group was founded in 1897 and is now one of India's most prosperous conglomerates. Godrej Properties Limited (GPL) is the real estate development division of the Godrej Group. The Godrej Group's innovation, sustainability, and excellence-focused philosophies are brought to the real estate sector by Godrej Properties.
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