Jobaaj Stories
The real estate arm of the Godrej Group, Godrej Properties, had a great day at the bourses as it surged over 9% today after it announced great Q4 business results.
For the unversed, Godrej Properties is the real estate arm of the 126-year-old Godrej Group. It is one of India's leading real estate companies that focuses on the development of residential, commercial, retail, and IT projects across major Indian cities like Kolkata, Bangalore, Pune, Mumbai, and Hyderabad.
According to the firm's press release, it witnessed a 19% sequential growth in sales volume during Q4FY23 with the same closing at 5.25 million sq. ft. However, the annual figure jumped 40% to 15.21 million sq. ft.
In terms of money, collections during the quarter came in at Rs 3,822 crores, growing 52% annually and 127% sequentially!! Moreover, the company recorded its highest-ever project deliveries with the same coming to 10 million sq. ft. in FY23.
The company's stock witnessed a gap-up opening as the stock opened at Rs 1,170 per share today, up Rs 45 per share. Bullish sentiment was strong throughout the day today.
The stock touched a high of Rs 1,236.80 per share, a level the stock had lost in late January 2022. Ultimately, the stock closed at Rs 1,228.35 per share, up 9.15% in a single session.
- Aman Agarwal
