Godrej Properties has acquired 26-acre land parcel in Bengaluru to develop a housing project with an estimated revenue of Rs 1,100 crore.
In its regulatory filing, the company informed that it has acquired a prime 26-acre land parcel in South Bengaluru, situated near Sarjapur Road.
“The company plans to develop a premium residential project on this land, with an estimated revenue potential of about Rs 1,100 crore,” the company said. Godrej Properties did not mention the name of the seller or also deal value.
Godrej Properties expands Bengaluru footprint with new Sarjapur Road project
Gaurav Pandey, MD & CEO, Godrej Properties, said: “As Bengaluru continues to consolidate its position as one of India’s most dynamic real estate markets, the Sarjapur Road corridor stands out as a key growth hub within the city’s evolving urban fabric. The strong performance of our recent projects in this micro-market reflects the depth of demand and the trust customers have in our brand.”
The realty firm Godrej Properties is one of the largest developers in the country. It has a significant presence in the Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, Bengaluru and Hyderabad.
In South Bengaluru, Godrej Properties has established a strong track record with developments such as Godrej Park Retreat and Godrej Lakeside Orchards, both of which have experienced high customer uptake and sustained sales velocity.
Share price of Godrej Properties
The share price of Godrej Properties hit an intraday high at Rs 2145.35 at around 10:20 am, up 3.69% from the opening price of Tuesday trade. The stock has gained 5.83% in past 6 months.
