Godrej Properties Targets Rs 1,350 Crore from New Mumbai Project

Godrej Properties Ltd expects to generate Rs 1,350 crore in revenue from a new housing project in Mumbai's Versova. The development will have a potential saleable area of 4.4 lakh square feet, focusing on premium residential spaces. This marks Godrej's first land acquisition in Versova.

Godrej Properties Ltd announced plans to generate revenue of Rs 1,350 crore from its latest housing initiative in Mumbai.

According to a regulatory filing, the company disclosed an agreement for the development of a prime land parcel in Versova, Mumbai. The project anticipates a saleable area of 4.4 lakh square feet, mainly devoted to premium residential spaces.

The initiative represents the company's initial land acquisition in Versova, demonstrating confidence in the region's potential and reinforcing Godrej's strategy to thrive in high-demand markets, stated Gaurav Pandey, MD & CEO of Godrej Properties.

(With inputs from agencies.)