Godrej Props on soild foundation

Godrej Properties Ltd (GPL) is up in the green today morning, among the top three gainers presently. The stock, on opening rose to Rs.867.20, up over 6.5%. The stock has gained after 2 days of consecutive fall.

The market is thrilled with the news of its spur in sales in Q4FY19, achieving bookings of over Rs.2100 crore, its highest ever bookings for a quarter.

The company sold over 2,900 homes with a total area of approximately 3. 75 million sq. ft. and a booking value in excess of INR 2,100 crore during the quarter.

Q4 FY19 was GPL's best ever quarter for bookings eclipsing its previous best ever residential sales quarter, achieved in Q3 FY19, by approximately 50%.

This record performance was achieved through the launch of four new projects combined with very strong sales from existing inventory.