Godrej Properties Expands Horizons with Strategic Land Acquisitions

Godrej Properties Ltd has acquired two land parcels totaling over 16 acres in Gurugram and Kolkata for about Rs 1,325 crore to develop housing projects. The company expects a total revenue of Rs 6,150 crore from these acquisitions. This move is part of their strategy to expand amid strong demand.

Godrej Properties Ltd, a leading realty firm, has secured over 16 acres in Gurugram and Kolkata to develop housing projects, representing an investment of about Rs 1,325 crore. The strategic acquisition aims at strengthening the company's footprint amid burgeoning real estate demand in these regions.

An 11.36-acre plot in Gurugram was purchased outright for approximately Rs 1,000 crore, with expected revenue of over Rs 4,500 crore. Meanwhile, in a competitive bid, Godrej acquired a 5-acre plot in Kolkata for about Rs 325 crore, forecasting a revenue potential of Rs 1,650 crore.

Gaurav Pandey, MD and CEO of Godrej Properties, highlighted the acquisition's contribution to a robust future sales portfolio, emphasizing growth prospects and demand diversification across key markets. The firm continues to expand its development capabilities, buoyed by strong performance in key cities.

(With inputs from agencies.)