Godrej Properties

Godrej Properties raises Rs 45 cr by selling 49% stake in Gurgaon project

Godrej Properties raises Rs 45 cr by selling 49% stake in Gurgaon project

Godrej Properties Ltd has sold 49 per cent stake in its subsidiary Godrej Premium Builders to private equity firm Sun-Apollo India Real Estate Fund for Rs 45 crore, the Mumbai-headquartered real estate arm of Godrej Group confirmed.

Godrej Premium Builders is developing a project at sector 104 in Gurgaon, Haryana, called Manesar Urban Complex. It is the firm's second project in Gurgaon. Previously in 2010, the firm launched its first project, called Godrej Frontier, in sector-80 of Gurgaon.

Godrej Properties Announces its Q4 results

Godrej Properties Announces its Q4 results

Godrej Properties today announced that its consolidated net profit has grabbed a threefold level touching Rs 57.49 crore in the fourth quarter ended March 2010, compared to the same period in the last fiscal.

Its net income from its operations registered a climb to Rs 170.95 crore during the January-March quarter compared from Rs 79.95 crore in the same period in FY09, Godrej Properties posted in a filing to the Bombay Stock Exchange (BSE).

In an interview with CNBC-TV18, Adi Godrej, Chairman, Godrej Properties, quoted, "As we go forward we see acceleration in growth."

Godrej Properties to transfer 49% shares in HDFC PMS

Godrej Properties to transfer 49% shares in HDFC PMS

Real estate developer Godrej Properties Ltd and HDFC PMS has signed a deal according to which Godrej will transfer its 49 per cent stakes in its subsidiary Godrej Sea View Properties Pvt. Ltd to HDFC PMS which is a joint venture between Housing Development Finance Corp. and UK-based Standard Life Investments.

The deal involves transactions of Rs. 55 Crores in two tranches of 22.27% and 26.73% of the equity share capital of GSVPPL. Godrej has transferred 22.27% of the equity share capital in the firm while remaining 26.73% of the equity share capital of GSVPPL would be soon taken up.

Godrej Properties plans to launch IPO at Rs 490 per share

godrej-propertiesGodrej Properties, promoted by Godrej Industries Ltd and Godrej & Boyce Manufacturing Company Ltd, has fixed the issue price for its initial public offering (IPO) at Rs. 490 per share in order to raise Rs. 460 crore.

Godrej Properties' Proposed IPO Set for December 9

godrej_propertiesMumbai based Godrej Properties is all set for its Initial Public Offering which is scheduled for December 9. Under the proposal made by the company, as many as 9,429,750 equity shares would be released in the markets, each priced at Rs. 10. Majority of the stake on the firm, 80.26%, is currently held by parent company Godrej.