Godrej Properties stocks: Godrej Properties shares in focus after announcing Rs 1,350 crore project in Versova, Mumbai

Godrej Properties shares will be in focus on Monday after the company announced its first land acquisition in Versova, a residential suburb in Mumbai’s Andheri West. The planned project will offer around 4.4 lakh square feet of saleable area, with an estimated revenue potential of Rs 1,350 crore.

Gaurav Pandey, MD & CEO of Godrej Properties, expressed confidence in the area’s prospects. “This is our first land acquisition in Versova and reflects our confidence in the area’s potential. It further strengthens our presence in Mumbai and aligns with our growth strategy, which focuses on delivering high-quality developments in high-demand micro-markets,” he said.

The company said the project will consist primarily of premium residential units across various configurations, with the estimated revenue based on current business assumptions.

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Versova benefits from strong connectivity via the Versova Metro, Western Express Highway, and Link Road. The upcoming Bandra-Versova Sea Link (BVSL) is expected to further enhance access to Bandra and South Mumbai, making the area more attractive for homebuyers.

The location also offers robust social infrastructure, including top schools, hospitals, and entertainment hubs. Its proximity to major business districts and ongoing infrastructure development continue to drive residential demand.Also Read: Stocks in news: Nykaa, Delhivery, IndusInd Bank, Mazagon Dock, ITCGodrej Properties shares target price

As per Trendlyne data, the average target price of the stock is Rs 3,044, which shows an upside of 47% from the current market prices. The consensus recommendation from 20 analysts for the stock is a ‘Buy’.

Godrej Properties shares performance

On Friday, Godrej Properties shares closed at Rs 2,069.4 on the BSE, down 3.8%, while the benchmark Sensex declined 1.22%. The stock has dropped 25% year-to-date and 29% in the past six months. The company’s market capitalization stands at Rs 62,328 crore.

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