Shares of Godrej Properties Ltd rose on Monday after the real estate developer received regulatory approval for the first phase of its luxury residential project, Godrej Trilogy, located in Worli, Mumbai. The stock climbed up to 2.8% to an intraday high of ₹2,352, before trading 1.73% higher at ₹2,327.40 on the NSE around 2:30 p.m.
The project, with an estimated gross revenue potential of over ₹10,000 crore, will come up on a 2.63-acre land parcel as part of a joint redevelopment in one of Mumbai’s most premium neighborhoods. Phase 1, now approved by the Maharashtra Real Estate Regulatory Authority (MahaRERA), includes around 11 lakh sq. ft. of saleable area across two towers — Seaturf and Seafront.
The company plans to launch the first phase within the current quarter, adding significant value to its South Mumbai residential portfolio. Situated off Dr. Annie Besant Road, adjacent to the Mahalaxmi Racecourse, the project offers scenic views of both the Racecourse and the Arabian Sea.
Commenting on the development, Gaurav Pandey, MD & CEO of Godrej Properties, said, “The RERA approval marks an important milestone in our project timeline. This location combines scale, connectivity, and visibility, further strengthening our presence in South Mumbai and aligning with our strategy to focus on high-potential urban developments.”
Despite Monday’s uptick, Godrej Properties’ stock remains nearly 22% lower over the past year.
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