Godrej Properties buys 4-acre land parcel in Bengaluru with revenue potential of ₹1,000 crore

Godrej said the project site is strategically located with a huge frontage on National Highway - 75, Yeshwanthpur. The area offers well-developed commercial and social infrastructure and is in proximity to Goraguntepalya and Peenya metro stations, providing access to the Central Business District, (CBD) and other parts of Bengaluru.

The location also provides connectivity to the Kempegowda International Airport, Bengaluru, and other key areas of Bengaluru through Outer Ring Road – Hebbal, the statement added.

"Yeshwanthpur is an important micro market for us, and we are happy to add this land parcel to our portfolio. This will further strengthen our presence in Bengaluru and complement our strategy of deepening our presence in key micro markets across India's leading cities," said Gaurav Pandey, MD and CEO, of Godrej Properties.

Recently, the real estate developer said it has sold inventory worth over ₹2,600 crore in its project, Godrej Aristocrat, located in Sector 49 on Golf Course Extension Road, Gurugram.

Godrej Properties claims that the project is the most successful launch ever in terms of the value of sales achieved, surpassing the previous best launch worth over ₹2,000 crore at its project, Godrej Tropical Isle in Noida last quarter. During April-September 2023-24, Godrej Properties achieved 48% growth in its sales booking to ₹7,288 crore, compared to ₹4,929 crore in the year-ago period.

Out of the total sales booking of ₹7,288 crore, the Delhi-NCR market contributed to about ₹3,186 crore. On Monday, shares of Godrej Properties Ltd settled 0.27% lower at ₹2,007.95 apiece on the NSE. The stock has risen nearly 30% in the last six months.