Godrej Properties experienced a slight decline in shares at Rs 2,298 in the opening trade on January 17 following the announcement of its latest land acquisition in Bengaluru, marking the second such purchase this month.
As of 9:24 am, Godrej Properties was trading at Rs 2,298.40, reflecting a marginal decrease of Rs 5 or 0.22 percent. Concurrently, the Nifty was down by 228.30 points or 1.04 percent at 21,804.
The developer acquired a one-acre land parcel in Yeshwanthpur, with a developable potential of approximately 1.40 lakh square feet saleable area. The acquisition was made through an outright purchase, with the intention of developing premium residential apartments on the site, as disclosed by the company.