Godrej Properties on Monday announced that it has acquired 43 acres of land in Sector 40, Panipat. In a regulatory filing, the company said, the land acquisition is for a plotted development with a revenue potential of over Rs 1,250 crore.
With its entry in Panipat, Haryana, the Mumbai-based real estate company said this will be its fourth residential plotted township in North India.
The project will contain approximately 1.02 million sqft of plotted residential development, offering attractive plot sizes and lifestyle amenities, it added. The site is strategically located with access from the National Highway and is close to a host of social infrastructure.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are pleased to announce our entry into Panipat. The project fits well with our strategy of expanding into new markets for plotted development. Haryana has been a key market for us, and we look forward to develop a quality plotted township in Panipat, that creates long-term value for its residents.”
Earlier in May, the company released its fiscal fourth quarter earnings report with net profit at Rs 380 crore as against Rs 480 crore in the same quarter last fiscal. The real estate company had launched 34 projects across 7 cities with an aggregate area of 29.2 million square feet. The total income increased to Rs 2,681.06 crore in the fourth quarter of FY25
In FY25, Godrej Properties had announced that it sold 15,302 residential units worth Rs 29,444 crore. In comparison, the company had clocked Rs 22,500 crore in sales in FY24.
Shares of Godrej Properties were down 0.43 per cent at 10:20 am today at a trading price of Rs 2,353.30.