Read more about Prestige Estates Projects completes phase 1 of deal with Blackstone Group on Business Standard. The enterprise value forming part of phase 1 is approximately Rs 7467 crore out of the total enterprise value of approximately Rs 9160 crore as mentioned in the Initial Disclosure.
The announcement was made at the fag end of market hours yesterday, 9 March 2021.
The stock is currently trading above its 50-day moving average (DMA) placed at Rs 82.82 and its 200-day moving average (DMA) placed at Rs 57.55.
WorldHome Collection is the new range of ultra- Luxury homes by Puravankara. Through this project, the company aims to provide sustainable, futuristic and exclusive homes designed by world-renowned architects. Puravankara has invested almost Rs 450 crore with an expected top-line revenue of Rs 800 crore. The development will see four towers with a total of 233 residential unit and one tower of 79 commercial units.
The last few months have witnessed a steady growth in the luxury housing segment, which is indicative of a shift in the post-pandemic consumer behaviour, Puravankara said. Leveraging this shift and latent demand, the company believes this is the right time to bring their ultra-luxury World Home Collection homes to Mumbai, it added.
Power Grid, Bharat Forge, Godrej Properties to be watched business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Read more about Godrej Properties Ltd Spikes 4.15%, S&P BSE Realty Index index Rises 1.78% on Business Standard. Godrej Properties Ltd has added 6.11% over last one month compared to 2.46% gain in S&P BSE Realty Index index and 0.05% rise in the SENSEX
Godrej Properties gained 4.14% to Rs 1512 after the company launched a qualified institutional placement (QIP) of equity shares on Tuesday (9 March 2021).In a regulatory filing, the company said the QIP committee of the board of directors, in its meeting held on Tuesday, approved and adopted the preliminary placement document in connection with the issue.
It also approved the opening of the issue from 9 March 2021. The panel approved the floor price for the issue at Rs 1,513.39.
The floor price is at 4.24% premium to Godrej Properties closing price of Rs 1451.85 on Tuesday. The board is scheduled to meet on 15 March 2021 to fix the issue price of the equity shares to be allotted to qualified institutional buyers, pursuant to the Issue.