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Enthused by strong housing demand, realty firm Godrej Properties Ltd has acquired 18 land parcels last fiscal for development of new projects with an estimated sales potential of around Rs 32,000 crore. Mumbai-based Godrej Properties, which is part of business conglomerate <keyword id="133008" type="General" weightage="20" keywordseo="godrej-group" source="Orion">Godrej Group</keyword>, had given a guidance that for future development it would add land parcels that have sales revenue potential of Rs 15,000 crore. However, the company's new business development, which means addition of new land parcels, jumped more than two-fold of annual guidance. Godrej Properties acquires land outrightly and also enters into joint development agreements (JDAs) with landowners to create a pipeline of future projects and expand its business. In a recent regulatory filing, the company presented its operational performance for 2022-23. Godrej Properties highlighted that it has added "18 new projects in FY23 with a total estimated saleable area of nearly 29 million square feet and total estimated booking value of around Rs 32,000 crore." In the fourth quarter of last fiscal, five new projects were added with an expected sales booking value of Rs 5,750 crore. Among big-ticket deals in FY23, the company acquired an 18-acre land parcel in Kandivali, Mumbai for Rs 750 crore to develop a luxury housing project with an estimated revenue potential of about Rs 7,000 crore. It also acquired legendary film actor, director and producer Raj Kapoor's bungalow at Chembur in Mumbai to develop a luxury housing project. In February last year, Godrej Properties Executive Chairman Pirojsha Godrej had said that the company would invest around Rs 7,500 crore over the next 12-18 months on the acquisition and development of new real estate projects. Sitting on a huge cash pile, Godrej Properties entered aggressively into the market to acquire land parcels. In the last fiscal, it purchased more land outrightly than signing JDAs with landowners. On operational front, Godrej Properties' sales booking rose 56 per cent last fiscal to Rs 12,232 crore -- an all-time high -- on strong demand for residential properties. Pirojsha Godrej attributed the strong growth in FY23 to its strong portfolio of projects across the country. For the first time, the company sold over Rs 2,000 crore of real estate in each of four focus markets of Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru and Pune. Out of the total sales bookings last fiscal, housing segment's contribution was 99 per cent. Pirojsha said the company look forward to building on this sales momentum in FY24. During 2022-23, sales volumes grew by 40 per cent to 15.21 million square feet from 10.84 million square feet in the previous year. The company delivered projects aggregating over 10 million sq ft across 5 cities in FY23. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zepto-preps-for-public-listing-in-2-years-brings-in-ramesh-bafna-as-cfo-to-lead-ipo-process/articleshow/99514143.cms">Zepto preps for public listing in 2 years; Brings in Ramesh Bafna as CFO to lead IPO process</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbis-mpc-decisively-in-a-rate-pause-territory-as-inflation-cools-down/articleshow/99497132.cms">RBI's MPC 'decisively' in a rate-pause mode as inflation cools down</a>

Godrej Properties acquires 18 land parcels in FY23 to build new projects with Rs 32,000-cr sales potential

New Delhi, Realty firm <keyword id="72751" type="General" weightage="20" keywordseo="Brigade-Enterprises" source="Orion">Brigade Enterprises</keyword> has reported a 72 per cent increase in its consolidated net profit to Rs 133.50 crore for the second quarter of this fiscal year. Its net profit stood at Rs 77.58 crore in the year-ago period. Total income rose to Rs 1,407.92 crore during the July-September period of this fiscal year from Rs 912.19 crore in the corresponding period of the previous year, according to a regulatory filing on Wednesday. The company's sales bookings stood at 1.67 million square feet valued at Rs 1,249 crore during the second quarter of this fiscal year. "All business verticals contributed significantly to the growth of the company in Q2 of FY24. The residential segment continues to outperform with strong absorption across our key markets, heightened end-user interest, stable registration processes, steady home loan rates and excellent response to new launches," Pavitra Shankar, Managing Director of Brigade Enterprises Ltd, said. With a robust pipeline of launches in Bengaluru, Chennai and Hyderabad, she expressed confidence that the company would sustain the momentum going forward. Established in 1986, Brigade Enterprises Ltd is one of the leading property developers. It has developed many housing, commercial (office and malls) and hospitality projects across cities -- Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Gift City-Gujarat, Thiruvananthapuram, Mangaluru and Chikkamagaluru.

Brigade Enterprises Q2 2023-24 net profit rises 72% to Rs 133.5 crore

<ul><li>At 7:45 am, the SGX Nifty was trading flat, indicating a tepid start for Nifty50. </li><li>Here's a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start lower on Wednesday, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was trading flat, indicating a tepid start for Nifty50. However, the US <a href="https://www.businessinsider.in/stock-market/news/dow-closes-at-record-as-democratic-senate-win-and-stimulus-expectations-offset-capitol-chaos/articleshow/80143521.cms">stocks closed at record highs on Wednesday</a> as the prospect for more stimulus under a Democratic-controlled Senate offset chaos at the US Capitol. The Dow Jones Industrial Average closed 437 points higher, and the S&amp;P 500 was up 0.57%. These are the stocks to watch out for during the trading session today: Godrej Properties, Oberoi Realty, Indiabulls Real Estate, Sunteck Realty, and other realty stocks After reducing stamp duties, the Maharashtra government has given a further boost for real estate developers. On January 6, the Maharashtra cabinet approved the proposal to cut the premium on real estate projects by 50% till December 31, 2021. <cmsannotation type="cmsannotation" annotationid="Sobha" comment="subhead" text="Sobha">Sobha</cmsannotation> In its quarterly update, Sobha Limited said its total sales value was up 22.2% to ₹887.6 crore during the quarter. Good demand across product categories has helped Sobha lock in improved sales. It also registered its highest price realisation in the past six quarters. Telecom stocks: Airtel, Vodafone-Idea, RIL, and others The telecom department has issued a notice, inviting applications from companies for the sixth round of 4G spectrum auction for radio waves worth ₹3.92 lakh crore. The auction will begin from March 1, while the companies who wish to bid for the spectrum can submit their applications till February 5. Lupin On Wednesday, homegrown pharma major Lupin said it has received approval from the US health regulator to market its generic version of sulfamethoxazole and trimethoprim oral suspension used to treat bacterial infections. Dixon Technologies Dixon Technologies has bagged a twin wireless speakers manufacturing contract from boAt. The company will be manufacturing the said products from its manufacturing facility located at Noida. Bandhan Bank Private lender Bandhan Bank said its loans and advances grew by 23% year-on-year to ₹80,255 crore during the third quarter of the current fiscal. During the quarter, its total deposits increased by 30% to ₹71,188 crore compared to the corresponding period last year. Maruti Suzuki Maruti Suzuki India, the country's largest carmaker, said its total production in December increased 33.78%. Future Consumer Kishore Biyani-led Future Consumer's <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/58a8372e-408d-42df-955b-35c1f84ce722.pdf">loan default amount till December</a> 31 stands at ₹90 crore and total outstanding loan amount stands at ₹329 crore. Tata Consultancy Services Tata Sons tendered shares worth ₹9,997 crore of <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/76e1562e-e8e4-4dfe-a9fb-03cd45432177.pdf">Tata Consultancy Services (TCS)</a> during the IT major's ₹16,000 crore-buyback offer that concluded recently. The single largest shareholder of TCS, Tata Sons, tendered more than 3.33 crore shares during the offer. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/boat-raises-over-100-million-from-warburg-pincus-analysts-expect-the-headphone-brand-to-double-its-revenue-to-10-billion-this-financial-year/articleshow/80126200.cms" data-type="tilCustomLink">boAt raises over $100 million from Warburg Pincus — analysts expect the headphone brand to double its revenue to ₹10 billion this financial year</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-explain-why-burger-king-and-mrs-bectors-shares-fell-with-a-thud-and-what-to-do-now/articleshow/80120941.cms" data-type="tilCustomLink">Analysts explain why Burger King and Mrs Bector’s shares fell with a thud — and what to do now</a>

Top stocks to watch — TCS, RIL, Maruti, Airtel, Godrej Properties, Oberoi Realty, Sobha, and others

<ul><li>At 7:40 am, the SGX Nifty was down 0.12% at 8.63 points pointing towards a lower start for Nifty50.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amid mixed cues from the global peers, Indian stock-market indices are likely to open on a muted note on Thursday. At 7:40 am, the SGX Nifty was down 0.12% at 8.63 points pointing towards a lower start for Nifty50. However, the Dow Jones Industrial Average rose 0.3%, to 28,331.92 on Wednesday, on the back of a strong rally in tech-related shares. These are the stocks to watch out for during the trading session on Thursday: ICICI Bank ICICI Bank on Wednesday said it would sell up to 2% of its holding in ICICI Securities through an open market transaction. “The Board of Directors of the bank, at its meeting held today, approved the sale of up to 6,442,000 equity shares of face value ₹5 each of ICICI Securities Limited (company), representing up to 2% of its issued and paid-up equity share capital, through an open market sale,” the bank said in a regulatory filing. The shares of ICICI Bank ended nearly a percent higher on Wednesday. Oberoi Realty, Godrej Properties and other real estate stocks The Maharashtra government has decided to slash stamp duty on sale deed documents by 3% from September 1 to December 31, 2020, and by 2% from January 1, 2021 to March 31 2021. The shares of Oberoi Realty ended nearly 2% lower on Wednesday, whereas Godrej Properties was down nearly a percent. Hindustan Aeronautics Limited The Union Government is selling 15% of its equity stake in the state-owned Hindustan Aeronautics Ltd (HAL) at ₹1,001 per share to raise about ₹5,000 crore through an offer for sale (OFS). “The Defence Ministry has notified the stock exchanges in the evening on selling 15% of its equity stake (5.01-crore shares) in the company at ₹1,001 per share of ₹10 face value through OFS,” a company official <a href="https://www.sify.com/finance/govt-to-sell-15-stake-in-hal-through-sale-offer-news-news-ui0skQhedbahj.html">told IANS</a>. The shares of HAL ended nearly a percent higher on Wednesday. Mahindra and Mahindra Limited Automobile major Mahindra &amp; Mahindra and e-mobility technology company REE Automotive has entered into a memorandum of understanding (MoU) to explore development and manufacturing of commercial electric vehicles for global markets. “The partnership will support REE’s global customer need for 200,000-250,000 electric commercial vehicle units over a few years, including potential Mahindra’s domestic and international volumes. Production would be scaled further to support additional volume in the global as well as Indian market,” the company said. The shares of M&amp;M ended over 1% higher on Wednesday. Infosys Infosys has launched an AI-driven solution that will automate help desk operations, allow customers to eliminate manual resolution and build near-touchless contact centres in the Covid-19 times. Infosys partnered Blue Prism, a leading Robotic Process Automation (RPA) provider and a strategic partner, to build the ‘Cognitive Email Workbench’ solution. The shares of Infosys ended nearly 2% higher on Wednesday. Rossari Biotech SBI Mutual fund increased its stake in Rossari Biotech from 4.80% to 5.25%. The shares of Rossari Biotech ended nearly 2% lower on Wednesday. Allcargo Logistics The board of directors of Allcargo Logistics will meet today to consider and approve the voluntary delisting of shares The shares of Allcargo Logistics ended nearly 2% lower on Wednesday. Jindal Stainless Jindal Stainless’ board approved raising up to ₹162.8 crore through issue of convertible equity warrants. “The board of directors of Jindal Stainless Ltd at its meeting held today...considered and approved raising funds through issue of convertible equity warrants for an amount up to ₹162.8 crore on preferential basis,” the company said in a filing to the stock exchanges. The shares of Jindal Stainless ended nearly 3% higher on Wednesday. ITC, VST Industries and Godfrey Phillips For providing benefits to farmers, a parliamentary panel has recommended permitting regulated foreign direct investment (FDI) in the tobacco sector and establishing export-only tobacco farms to boost outward shipments. The shares of ITC ended nearly a percent lower on Wednesday. Indraprastha Gas The company reported 88% fall in its net profit to Rs 35.2 crore for the first quarter ended June 30. The company's total revenue declined 58.9% to Rs 638 crore. The shares of Indraprastha Gas ended flat on Wednesday. SEE ALSO:<a href="https://www.businessinsider.in/science/space/news/mars-spotted-first-time-by-uae-hope-probe-on-its-maiden-voyage-in-space/articleshow/77775267.cms" data-type="tilCustomLink"> UAE’s Hope probe spots Mars for the very first time on its maiden voyage through space</a> <a href="https://www.businessinsider.in/tech/news/apples-new-iphone-operating-system-is-making-it-harder-for-facebook-to-track-people-and-facebook-warns-it-will-decimate-part-of-its-business/articleshow/77769482.cms" data-type="tilCustomLink">Apple's new iPhone operating system is making it harder for Facebook to track people, and Facebook says it will decimate part of its business</a>

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Godrej Properties acquires 18 land parcels in FY23 to build new projects with Rs 32,000-cr sales potential

PTI

Brigade Enterprises Q2 2023-24 net profit rises 72% to Rs 133.5 crore

BI India Bureau

Top stocks to watch — TCS, RIL, Maruti, Airtel, Godrej Properties, Oberoi Realty, Sobha, and others

Navdeep Yadav

Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more

Navdeep Yadav

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You Searched For "share price of Oberoi Realty" and got 4 results

Godrej Properties acquires 18 land parcels in FY23 to build new projects with Rs 32,000-cr sales potential

PTI

Brigade Enterprises Q2 2023-24 net profit rises 72% to Rs 133.5 crore

BI India Bureau

Top stocks to watch — TCS, RIL, Maruti, Airtel, Godrej Properties, Oberoi Realty, Sobha, and others

Navdeep Yadav

​Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more

Navdeep Yadav

Popular Keywords

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Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more