Godrej Properties gives exit to HDFC Property Fund in Pune project

Godrej Properties on Wednesday said it has increased stake in Godrej Realty to 100 per cent from 51 per cent by acquiring equity shares from HDFC Property Fund.

Godrej Realty Private Limited is engaged in construction and development of land situated in Pune, according to a regulatory filing. Godrej Properties said the ''company has increased its equity stake in Godrej Realty from 51 per cent to 100 per cent by acquiring equity shares from HDFC Venture Trustee Company Ltd (acting for and on behalf of HDFC Property Fund invested through Scheme HDFC India Real Estate Fund).'' After this acquisition, Godrej Realty has become Wholly-Owned Subsidiary of the company with effect from March 31, 2021. The company did not disclose the deal value.

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