Godrej Properties Unveils Ambitious Kolkata Project

Godrej Properties Ltd has acquired 53 acres in Kolkata, aiming to create a residential plotted development with Rs 500 crore estimated revenue. This fits within their strategy to expand their urban presence in India. The company's sales bookings have significantly increased, solidifying its position in the real estate market.

In a major real estate development, Godrej Properties Ltd has secured a sprawling 53-acre land parcel in Kolkata, valued at approximately Rs 125 crore. The firm plans to construct a residential plotted development expected to generate about Rs 500 crore in revenue.

Strategically situated in the rapidly developing area of Joka, near Diamond Harbour, this project underscores Godrej's strategic ambitions to strengthen its foothold in key Indian cities. Managing Director and CEO Gaurav Pandey highlighted the acquisition as part of their broader strategy.

Godrej Properties, a leader in India's real estate market, reported an impressive 89% increase in sales bookings in the first half of the fiscal year. The company aims for a sales booking target of Rs 27,500 crore in the 2024-25 financial year, following a record Rs 22,527 crore in the previous year.

(With inputs from agencies.)