Godrej Properties Expands Footprint with Coimbatore Land Acquisition

Godrej Properties Ltd has acquired a 44-acre land parcel in Coimbatore for a housing project, estimated to generate Rs 450 crore in revenue. The company's strategic expansion into Coimbatore highlights its focus on high-potential cities for plotted development, bolstered by local economic strength and demand.

Godrej Properties Ltd has secured a 44-acre site in Coimbatore, aiming to launch a housing project anticipated to yield Rs 450 crore in revenue. Announcement of the acquisition was confirmed through a regulatory filing on Friday.

The project is set to offer premium residential plots, covering a developable area of 1.1 million square feet. However, the company chose not to disclose the financial terms of the land acquisition.

Gaurav Pandey, MD & CEO of Godrej Properties, emphasized that entering the Coimbatore market aligns with their strategic aim to tap into high-potential cities across India. Coimbatore's economic appeal and strong demand from end-users make it an attractive development location, he added.

(With inputs from agencies.)