{"id":110680,"date":"2023-09-25T14:39:09","date_gmt":"2023-09-25T09:09:09","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=110680"},"modified":"2023-09-25T16:00:23","modified_gmt":"2023-09-25T10:30:23","slug":"real-estate-stock-jumps-2-5-after-it-sold-around-670-homes-worth-2000-cr-in-noida","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/real-estate-stock-jumps-2-5-after-it-sold-around-670-homes-worth-2000-cr-in-noida\/","title":{"rendered":"Real Estate stock jumps 3.5% after it sold around 670 homes worth \u20b9 2,000 Cr in Noida\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4264422924\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>On Monday, the shares of one of India&#8217;s largest real estate developers rose 2.5 percent to Rs 1,578.55 per share after the company sold about 670 homes worth Rs 2000 crore in its new housing project in Noida.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1663291586\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>At 1:35 p.m., Godrej Properties Ltd shares were trading at Rs 1,573.90 per share, up Rs 34.80 or 2.28 percent on NSE from the previous close price. The company has a market capitalization of Rs 43,826 crore.&nbsp;<\/p><p>The company sold around 670 homes worth over INR 2,000 crore in their new project Godrej Tropical Isle, which was launched in August 2023, within nine months of the purchase of land from the Noida authorities in November 2022.&nbsp;<\/p><p>\u201cThis is Godrej Properties\u2019 most successful ever launch in terms of the value and volume of sales achieved. The project was launched in August 2023 within nine months of the purchase of land through an e-auction conducted by Noida Authority in November 2022,\u201d the company said in a regulatory filing.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3204117590\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>This Godrej project provides access to high-quality social infrastructure and is in close proximity to commercial infrastructure like &#8211; Noida SEZ, entertainment hubs, Film City, etc.&nbsp;<\/p><p>The Godrej Properties return on equity increased from 4.06 percent in FY22 to 6.16 percent in FY23, while the return on capital employed rose from 8.91 percent to 10.84 percent during the same period.&nbsp;<\/p><p>Godrej Properties shares have delivered returns of 53 percent in the last six months and 35 percent in a year.&nbsp;<\/p><p>The company\u2019s revenue has increased by 280 percent yearly, from Rs 244 crore in Q1FY23 to Rs 936 crore in Q1FY24. In the same time frame, the company\u2019s net profit declined by 10 percent, from Rs 94 crore to Rs 84 crore.&nbsp;<\/p><p>The company margins are in a strong position with net profit margin at 29.36 percent and operating margin at 44.85 percent.<\/p><p>As of FY 22-23, the company\u2019s promoters hold a 58.48 percent stake, foreign institutional investors hold 28.85 percent, and domestic institutional investors hold a 4.29 percent stake in the company.&nbsp;<\/p><div class=\"trade-content-10\" id=\"trade-2814191090\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p><strong>Written by Omkar Chitnis<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-458351064\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>On Monday, the shares of one of India&#8217;s largest real estate developers rose 2.5 percent to Rs 1,578.55 per share after the company sold about 670 homes worth Rs 2000 crore in its new housing project in Noida.&nbsp; At 1:35 p.m., Godrej Properties Ltd shares were trading at Rs 1,573.90 per share, up Rs 34.80 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":82782,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-110680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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