The shares of Godrej Properties and Arkade Developers recorded significant gains on June 16 after the real estate developers announced positive updates about their business
Godrej Properties shares rose around 1.6 percent to close at Rs 2,440 apiece, while those of Arkade Developers soared nearly 5 percent to end the session at Rs 201 apiece.
Godrej Properties:
Godrej Properties announced on June 16 that it will develop a premium residential project on a land parcel spanning across 14 acres of land in Hoskote, East Bengaluru. The firm added that its expects the proposed project to offer nearly 1.5 million square feet of saleable area with an estimated revenue potential of around Rs 1,500 crore.
“Hoskote is an important micro market for us in East Bengaluru. It continues to demonstrate strong demand for high-quality housing and aligns with our vision of developing best-in-class residential communities. We aim to build a high-quality development that creates long-term value for its residents,” said Godrej Properties CEO and MD Gaurav Pandey.
