Godrej Properties: On a Land Acquisition Spree

Godrej Properties plans to acquire several land parcels this fiscal year, targeting a revenue potential of Rs 30,000 crore. The company has already surpassed its business development guidance for the year and continues to acquire strategic land holdings to drive growth in housing projects nationwide.

Godrej Properties, a key player in India's real estate market, is actively pursuing aggressive land acquisition strategies this fiscal year with a target revenue potential of around Rs 30,000 crore, according to Executive Chairperson Pirojsha Godrej.

The company is focused on expanding its land portfolio by acquiring parcels directly and partnering with landowners. Notably, Godrej Properties has already exceeded its business development guidance of Rs 20,000 crore, emphasizing its robust acquisition momentum in the first half of the fiscal year.

Recent acquisitions include 75 acres in Nagpur and 30 acres in South Bengaluru, earmarked for housing developments. The company's sales bookings have seen a 13% increase, and it remains confident of achieving its Rs 32,500 crore sales bookings target for the fiscal year.

(With inputs from agencies.)