Godrej Properties Expands Footprint with Major Land Acquisitions

Godrej Properties has acquired an 11.36-acre land parcel in Gurugram for around Rs 1,000 crore, expecting revenue over Rs 4,500 crore. The firm has also won a bid for a 5-acre plot in Kolkata, with an anticipated Rs 1,650 crore in revenue, boosting its development portfolio.

Realty firm Godrej Properties Ltd has strategically expanded its land holdings by acquiring prime plots in Gurugram and Kolkata. The company secured an 11.36-acre site in Gurugram for approximately Rs 1,000 crore, estimated to generate over Rs 4,500 crore in revenue from a forthcoming housing project.

In a notable move, Godrej Properties also won a bid for a 5-acre land parcel in Kolkata through an e-auction conducted by the West Bengal Housing Infrastructure Development Corporation Ltd. This new acquisition is projected to bring in Rs 1,650 crore in revenue from another housing development.

The company's MD and CEO, Gaurav Pandey, highlighted that these acquisitions significantly bolster their business development capacity, adding over Rs 40,000 crore of future sales potential to their portfolio, marking their best year for business development yet.

(With inputs from agencies.)