Godrej Properties Shares fall 10%, board to acquire 10% stake in DB Realty for Rs 400 cr

Godrej Properties Shares fall 10%
Shares Price fall (Image: Canva)

The share price of Mumbai-based real estate company Godrej Properties was down 10% today in the early trade after the stock made a slight recovery and the company’s stock was trading down 6.5% till the market closing.

Godrej Properties’ pre-sales declined by 7% on a year-on-year basis and by 39% on a quarter-on-quarter basis in the company’s December-ended quarter results.

Apart from this, the company’s board approved the proposal to invest Rs 400 crore in a firm named DB Realty. The company will issue warrants for the same and will acquire a 10% stake in DB Realty.

Godrej Properties and DB Realty will undertake a joint venture under the slum rehabilitation and redevelopment projects of the Maharashtra Housing and Area Development Authority.

In the stock of Godrej Properties, the company’s stock price has almost gone down 18% in the last one month.

52 Week High2,598.00
52 Week Low1,200.00
Sector PE42.66
Face Value5
Mkt Cap (Rs. Cr.)41,889
Book Value Per Share299.28

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Net Profit 2021 (Rs. Cr.)-73
Debt to equity (2021)0.54
Revenue 2021 (Rs. Cr.)764
Dividend/Share (INR)0.00
Promoters holding58.43%

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This article is only for education purpose and the author has his own views and research, so if you invest in these stocks then do it at your own risk and do the research yourself before investing.

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