Godrej Properties Ltd. rose as much as 3.21 percent to Rs 331.50 after the company said it sold over 300 apartments in its Pune project, in two months.
Almost 75 percent of the 400 apartments on offer in the ‘Godrej Greens’ complex, was sold within the first two months of introducing the project, Godrej Properties said in its filing to the exchanges. The company had launched the Pune venture shortly after the government's November 8 decision to ban Rs 500 and Rs 1,000 notes, which dented real estate demand.
Pune will be an important growth driver for the company, Pirojsha Godrej, the managing director and chief executive officer of Godrej Properties said in the press release.
We consider Pune a critical growth opportunity for our company and hope to have many more successful launches in the city. We will do everything possible to ensure we deliver our customers an outstanding and innovative project.Pirojsha Godrej, MD And CEO, Godrej Properties
Shares pared early gains and were trading 0.8 percent higher at Rs 323.65 as of 9:45 a.m.
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