Godrej Properties Rises After Fourth-Quarter Sales Double

Godrej Properties Ltd. (GPL), a Mumbai-based developer, rose as much as 6.2 percent after saying sales in the quarter ended March 31 more than doubled.

Sales were 3.18 billion rupees ($71 million), according to a filing to the Bombay Stock Exchange on May 7. Profit gained 4 percent to 599.9 million rupees in the fourth quarter.

The shares climbed 3.5 percent to 693 rupees at 11 a.m. local time in Mumbai trading.

To contact the reporter on this story: Pooja Thakur in Mumbai at pthakur@bloomberg.net

To contact the editor responsible for this story: Andreea Papuc at apapuc1@bloomberg.net

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