Real estate company Godrej Properties Ltd has announced the launch of its first premium residential project in Hyderabad, named ‘Godrej Madison Avenue’, with an expected revenue of around ₹1,300 crore. The company made this announcement through a regulatory filing on Monday.
The Godrej Madison Avenue project will be located in Kokapet, a prime area in Hyderabad. The project spans 3 acres of land and will have around 12 lakh square feet of saleable area. The company has estimated that the total booking value for the project will be approximately ₹1,300 crore.
Commenting on the launch, Gaurav Pandey, Managing Director and CEO of Godrej Properties expressed enthusiasm, stating, “We are excited to launch our first project in Hyderabad, representing a significant step in our growth journey. Kokapet’s strategic location and infrastructure advantages make it an ideal destination for premium residential developments.”
Godrej Properties, one of the leading real estate developers in India, is well-established in major markets such as the Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, and Pune. With the launch of this project, the company has now expanded its footprint to Hyderabad, marking a key milestone in its business growth.
In addition to its residential developments in major cities, Godrej Properties also has residential plotted development projects in tier II and III cities across the country.
On January 13, 2025, Godrej Properties share price trades down by 4% at 11:21 AM (IST) at ₹2.290.55, while the BSE benchmark Sensex traded down by 735.33 points to 76,643.58. Godrej Properties’ share price reached a 52-week high of ₹3,400 on July 16, 2024, and a 52-week low of ₹2,095.85 on March 19, 2024. As per BSE, the total traded volume for the stock stood at 0.17 lakh shares with a turnover of ₹4.03 crore.
At the current price, Godrej Properties shares are trading at a price-to-earnings (P/E) ratio of 70.60x, based on its trailing 12-month earnings per share (EPS) of ₹33.80, and a price-to-book (P/B) ratio of 6.41, according to exchange data.
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Published on: Jan 13, 2025, 1:37 PM IST
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