Godrej Properties stocks rose by almost 5 per cent following the announcement that the company had sold 275 homes valued at more than Rs 2,000 crore during the launch of its upscale project called ‘Godrej Riverine’ in Noida. The stock of the Mumbai-based real-estate developer traded at approximately Rs 2,151 with 5.37 per cent in the afternoon on the National Stock Exchange (NSE). In a filing with the exchange, Godrej Properties revealed that its project is situated in Sector 44 of Noida, a prominent micro market in the city. The project spans 6.46 acres and consists of upscale residential apartments with different layouts. The company stated, “Noida provides a top-notch lifestyle and excellent connectivity, thanks to its well-designed infrastructure, expansive roads, and closeness to Delhi.” As per the company’s website, the cost of 3 BHK apartments in the project starts at Rs 6.40 crore, whereas 4 BHK apartments begin at Rs 7.35 crore. Significantly, Godrej Riverine represents the third straight launch exceeding Rs 2,000 crore in sales for the firm in Noida. The real estate firm had earlier sold properties valued at over Rs 2,000 crore in Godrej Jardinia (Q1 FY25) and Godrej Tropical Isle (Q2 FY24), situated in Sector 146, Noida. In early March, the company revealed that it sold nearly 90 homes valued at over Rs 1,000 crore on the launch day of its luxury project called ‘Godrej Astra’ in Gurugram. In spite of the favorable news, the company’s shares experienced a significant decline on 01 April, in line with its peer real estate stocks. Nonetheless, the stock experienced a significant rise on 02 April as markets continued to be unstable prior to US President Donald Trump’s tariffs. In other developments, market specialist Chris Wood from Jefferies has recently excluded Godrej Properties shares from Asia ex-Japan’s long-only portfolio.
