Godrej Properties sells inventory worth ₹2,690 crore at Mumbai project launch, stock surges

Godrej Properties has sold inventory worth ₹2,690 crore at the launch of its project — Godrej Reserve — in Kandivali, Mumbai.

The project has a developable potential of 3.72 million square feet with an estimated revenue potential of ₹7,000 crore.

• Also read: Godrej Properties buys 3-acre site in Hyderabad

Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are delighted with the response to our project, Godrej Reserve. This has now become the best-ever launch in Mumbai residential real estate. We would like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties.”

The stock surged 3.43 per cent on the NSE to trade at ₹2,492.30 as of 2.55 pm.

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