Godrej Properties ipo

Godrej Properties Details of the Issue :

Issue Period : Dec 09 to Dec 11 2009 Issue Size : Rs 462 - 500 cr Price Range : Rs 490 to 530 Lot Size : 13 and in multiple of 13 thereof IPO Grading fundamentals. : 4/5 by CARE, indicating above average

Issue highlights : Godrej Properties Limited (GPL) is a real estate development company whose land reserves comprise of 82.74 mn sq. ft. of developable area and 50.21 mn sq. ft. of saleable area (including ongoing & forthcoming projects). Apart from development of its total land reserves GPL has entered into a MOU to develop land measuring 185 acres owned by Godrej group companies. GPL has real estate development projects in 10 cities across India, at various stages of development. The projects are located in or near prominent and growing cities like Mumbai, Pune, Bengaluru and Ahmedabad. This Issue has been graded by ICRA Limited and has been assigned the “IPO Grade 4”, indicating above average fundamentals. The company derived 66% of revenues from commercial activities, 23% from residential activities and balance 11% from other income operations in FY2009. As of October 31, 2009, GPL has completed 23 projects comprising 16 residential & 7 commercial projects, totaling to a developable area. Of around 5.13 million sq. ft.