Shares of Godrej Properties jumped in morning trade after the realty developer announced that it has sold the entire first phase of its Godrej Summit project of over one million sq. ft in Gurgaon, comprising 695 flats in one single day.
At 22:22 pm, its shares were trading 2.65 percent higher at Rs 555 with a trading volume of about 13,500 shares in a flat Mumbai market.
The Mumbai-based real estate developer had on Wednesday launched the 21- acre housing project in Gurgaon comprising 1,200 flats with an investment of up to Rs 600 crore.
In a statement, Godrej Properties said it sold over over one million sq ft of space in its residential project in Gurgaon in a single day.
The company expects a revenue of Rs 1,200 crore from this project over the next five years. The project will be build in partnership with Zara Sanya under an area sharing agreement,
in which Godrej will hold 65 per cent stake.