BOM:533150

Nomura Adjusts Godrej Properties' Price Target to INR2,100 From INR2,060, Keeps at Neutral

Godrej Properties Acquires Land Parcel in South Chennai for Residential Project

Godrej Properties (NSE:GODREJPROP, BOM:533150) has acquired around 47 acres of land through an outright purchase near Old Mahabalipuram Road in South Chennai for a residential project.The proposed development will primarily include plotted units with a total developable potential of about 1.2 million square feet, according to a company statement on Tuesday. The project is estimated to generate revenue potential of around 5 billion rupees.Shares of the real estate developer rose over 2% in recent trade.

Godrej Properties Awards INR11 Billion Contract to Tata Projects for Gurgaon Luxury Trio

Real estate developer Godrej Properties (NSE:GODREJPROP, BOM:533150) has partnered with engineering and construction company Tata Projects for three of its luxury developments in Gurgaon, India, according to a Friday filing to the Indian stock exchanges.Under the pact, Tata Projects has awarded a contract worth 11 billion Indian rupees. The order is for setting up the core and shell construction works across Godrej Properties' three upcoming projects, Godrej Sora, Godrej Astra, and Godrej Samaris in Gurgaon.The company said this is its largest single construction contract award to date.Godrej Properties' shares were up nearly 1% in recent trade.

Nomura Adjusts Godrej Properties' Price Target to INR2,060 From INR1,920, Keeps at Neutral

Godrej Properties (NSE:GODREJPROP, BOM:533150) has an average rating of overweight and mean price target of 2,302.46 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Jefferies Adjusts Godrej Properties' Price Target to INR2,475 From INR2,420, Keeps at Buy

Godrej Properties (NSE:GODREJPROP, BOM:533150) has an average rating of overweight and mean price target of 2,295.61 Indian rupees, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

Godrej Properties' Consolidated Profit Jumps in Fiscal Q4

Godrej Properties' (NSE:GODREJPROP, BOM:533150) consolidated attributable profit jumped to 6.50 billion Indian rupees in the fiscal fourth quarter ended March 31, from 3.82 billion rupees a year ago.Earnings per share climbed to 21.57 rupees from 12.68 rupees, the real estate developer said in a filing to the Indian stock exchanges.Revenue from operations in fiscal Q4 also increased to 34.6 billion rupees from 21.2 billion rupees a year ago.The company's board recommended a dividend of 10 rupees per share for the financial year ended March 31.The company's shares were up over 2% in recent trade.