Godrej Properties Expands Footprint with Major Acquisitions in Bengaluru and Pune

Godrej Properties announced the acquisition of a 7-acre land in Bengaluru and an 11-acre land in Pune for luxury and group housing projects respectively. These projects are expected to generate substantial revenue and strengthen the company's presence in key markets.

In a strategic move, Godrej Properties has acquired a 7-acre land parcel in Bengaluru, earmarking it for a high-end residential project aimed at generating Rs 1,200 crore in revenue. The development, located in Thanisandra, North Bengaluru, will span approximately 9 lakh square feet.

Gaurav Pandey, MD & CEO of Godrej Properties, highlighted Bengaluru's evolving real estate landscape, citing increased demand due to available land parcels and infrastructural growth. 'North Bengaluru is an important market for us, and we are pleased to add this land to our portfolio. It enhances our presence and aligns with our strategy of focusing on key micro markets,' said Pandey.

In Pune, Godrej Properties is set to develop an 11-acre land parcel in Hinjewadi. This venture will feature both group housing and high street retail with an estimated developable area of 2.2 million square feet, aiming to generate Rs 1,800 crore in revenue. Pandey affirmed, 'Hinjewadi is crucial for us in Pune, and this acquisition further solidifies our market presence.' The company remains a dominant player in India's real estate sector, achieving the highest sales bookings in the 2023-24 fiscal year.

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