Godrej Properties IPO : In two months

by khalid on 02/09/2009 · 0 comments

godrej properties

Godrej Properties – The Best Real Estate Developer In India, realty arm of Godrej group, expects to come out with an IPO in the next couple of months.

The company already got the Draft Red Hearing Prospectus ( DRHP ) from SEBI and it is valid for next 10 months but company is eyeing on the market conditions and if the present improving conditions persists, the company floats its IPO in next two months itself.

The company is working on several projects, up to total size of 300 acres across the country, including Metros like Mumbai, Pune, Cochin and Chandigarh, of which 90 per cent are affordable housing projects. Under the affordable housing projects, one can get its dream home at a price range between Rs 5 lakh and Rs 25 lakh a unit.

The company said that market has become favorable for residential projects at present as prices of steel, cement, construction cost and mortgage rates have gone down.

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