Godrej Properties Share Price Rises Following Bengaluru Land Acquisition

Market Performance

Godrej Properties' share price rose by over 2% on March 24, 2025, marking the sixth consecutive day of gains. At 09:18 IST, the stock was trading at Rs 2,187.95, an increase of Rs 47.70 or 2.23% from the previous close.

The stock recorded a 52-week high of Rs 3,400.00 on September 26, 2024, and a 52-week low of Rs 1,903.85 on February 28, 2025. As of the latest trading session, the stock is positioned 35.65% below its 52-week high and 14.92% above its 52-week low. The company's market capitalisation is approximately Rs 65,897.75 crore. Over the past six months, the share price has declined by more than 31%.

Land Acquisition in Bengaluru

The recent increase in share price follows the company's acquisition of approximately 10 acres of land in Yelahanka, Bengaluru. According to a company statement, the acquired land has an estimated developable potential of around 1.5 million square feet of saleable area designated for residential development. The estimated revenue potential from this project is approximately Rs 2,500 crore.

Recent Business Activities

In February, Godrej Properties sold inventory worth over Rs 1,000 crore from its Evergreen Square project in Hinjewadi, Pune. The sales occurred within four months of acquiring the land. Additionally, the company terminated an agreement with Travancore Chemical & Manufacturing Co. Ltd. to develop a land parcel in Thrikkakara, Kochi.

Summary

Godrej Properties' share price has shown a positive movement following the acquisition of 10 acres of land in Bengaluru, with an estimated revenue potential of Rs 2,500 crore. Despite the recent gains, the stock remains significantly below its 52-week high. The company's ongoing projects and land acquisitions reflect its strategic focus on expanding residential development across key locations.