Godrej Properties shares fall despite over ₹2,000 crore sale of 275 flats in new Noida project

The stock declined 1.16% to ₹2,104.8 per unit on the National Stock Exchange (NSE) at 9:26 am.

This is the third consecutive launch with over ₹2,000 crore in sales in Noida for the company. Godrej Properties had earlier sold inventories of over ₹2,000 crore in Godrej Tropical Isle in Q2 FY24 and Godrej Jardinia in Q1 FY25.

Launched in March 2025, Godrej Riverine is spread over 6.46 acres with luxury residential apartments of varied configurations.

Commenting on the development, Gaurav Pandey, Managing Director (MD) and Chief Executive Officer (CEO) of Godrej Properties, said, "We are delighted with the overwhelming response to our luxury project, Godrej Riverine, in Noida. We extend our sincere gratitude to our customers and all stakeholders for their trust and confidence in Godrej Properties."

"We remain committed to delivering an exceptional living experience at this development. Noida is a key market for us, and we look forward to further strengthening our presence in the region in the years ahead," he added.

Last week, the company sold around 90 flats for more than ₹1,000 crore in its luxury project 'Godrej Astra' on Golf Course Road micro-market, Gurugram. The project is spread over 2.76 acres.

Godrej Properties reported a 161.18% increase in its profit attributable to equity holders to ₹162.64 crore in the third quarter of the financial year 2024-25. In the year-ago quarter, the profit was ₹62.27 crore.

Revenue from operations surged 193.2% to ₹968.88 crore in the quarter ended December 2024, as compared to ₹330.44 crore.

Booking value in the latest October-December quarter was ₹5,446 crore from the sale of 4.07 million square feet of area, reflecting a decline of 5% year-on-year (YoY) and a growth of 5% quarter-on-quarter.