The leading real estate player Godrej Properties Ltd. on Friday evening. It has also acquired about 15 acres of land in Gurugram, Haryana. The development of premium residential apartments. The land has been acquired through an outright purchase and the company said in the filing to the stock exchanges.
The company has also mentioned the cost of acquiring the land or the revenue potential it is most likely to have. It comes after a Mumbai-based real estate company acquired nine acres of land in Gurugram in December 2022 through an outright purchase for a premium residential project. The revenue potential of the time of rs 2,500 crore. The project is going to offer approximately 1.6 million square feet of premium residential development with exceptional lifestyle amenities.
The real estate developer has purchased 62 acres of land at Kurukshetra in Haryana. Godrej Properties posted a 40 percent increase in sales for the financial year of 202-23. The management expected to continue into the current financial year as well as outgoing. MD Pirojsha Godrej had predicted good visibility in the financial year 2024. For the financial year 2026, Godrej has expected that number to reach rs 20,000.
Earlier this month, this real estate owner announced that it is going to acquire a 7.44-acre land parcel in New Alipore for a luxury residential project. It would be the company’s second luxury residential project in Kolkata. This project is going to have a developable potential of about 9.8 lacks with an estimated revenue potential of about rs 1,200 crore.
The shares of Godrej Properties are trading little changed at Rs 1,500.
