Shares of Godrej Properties rose 3% on 30 June, hitting a day’s high of Rs 1,884.80, after it bought a new land parcel in Chennai.

The stock had opened at Rs 1,845 against its previous close of Rs 1,830.10, and the buying picked up pace through the morning session.

Godrej Properties has bought a 47-acre land parcel in South Chennai through an outright purchase. The site is located off Old Mahabalipuram Road, in one of the city’s fastest-growing residential belts.

The company plans to build plotted residential units on the land. Once developed, the project is expected to offer around 1.2 million square feet of saleable area, with an estimated revenue potential of Rs 500 crore.

The location has good connectivity to major employment hubs in the Siruseri-Kelambakkam corridor, including SIPCOT, and is close to growing areas like Vandalur and Guduvanchery.

It also has decent access to hospitals, schools and retail options nearby.

‘South Chennai is seeing a clear evolution in residential demand,’ said Gaurav Pandey, MD and CEO of Godrej Properties, while describing the belt as one of the most promising micro markets in the region.

This isn’t a one off purchase for the company. Godrej Properties picked up 18 land parcels through FY26, together worth a combined revenue potential of Rs 42,100 crore.

Earlier this year, it had also acquired a 44 acre parcel in Coimbatore, expected to bring in around Rs 450 crore in revenue.

As of 12:13 pm on 30 June, the stock was trading at Rs 1,875.60 on the NSE, up 2.49% for the day. It remains well below its 52 week high of Rs 2,407.90, though it has climbed about 5% over the past month.

Unlock profitable opportunities every day! Tradz by EquityPandit provides actionable intraday trading signals for stocks and futures. Don’t miss out – download Tradz by EquityPandit and start winning now!