Godrej Properties acquires land for a residential project in Ahmedabad

Godrej Properties Limited (GPL), one of India's leading real estate developers, today announced that it has acquired ~3 acres of land in Vastrapur, Ahmedabad.

The development on this land is estimated to have a potential of ~0.9 million square feet of saleable area comprising primarily of premium residential apartments of various configurations with an estimated booking value of ~INR 1,300 crore*. This acquisition is in line with GPL's strategy of developing high-quality residential projects across India's leading real estate markets.

This land parcel is strategically located in Vastrapur, a premium residential locality in West Ahmedabad offering good social infrastructure and excellent connectivity to key areas of the city. The area is wellserved by top schools and healthcare facilities. Renowned landmarks, including IIM Ahmedabad, Vastrapur Lake Garden, Sabarmati Riverfront Project, and Nexus Ahmedabad One Mall, further enhance its appeal. Additionally, Vastrapur's proximity to business hubs like Navratna Business Park and Pinnacle Business Park makes it a prime location for residents seeking convenience, modern living, and accessibility.

Gaurav Pandey, MD & CEO, Godrej Properties said, "We are happy to add our second project in Ahmedabad. This will further strengthen our presence in Ahmedabad and complement our strategy of deepening our presence in key micro-markets across India's leading cities."

* On the basis of the current business assumptions.

Consortium members: Matrix Gas & Renewables Ltd., Gensol Engineering Ltd., Indian Institute of Technology Bhubaneswar, and Metsol AB (Sweden) will collaborate on this pilot plant, which will have a capacity of 50 tons per day (TPD). Matrix will oversee the entire project lifecycle, including land acquisition, environmental assessments, and all critical phases of design, engineering, procurement, and logistics. The scope of work will cover the manufacturing, supply, erection, inspection, installation, testing, and commissioning of the facility, along with the development of supporting infrastructure.

Commenting on this landmark development, Chirag Kotecha, Whole-time Director, Matrix Gas and Renewables Ltd., said, "We are proud to lead such a transformative project in India's steel industry. This facility not only demonstrates our commitment to green hydrogen and sustainable practices but also places us at the forefront of India's clean energy transition. We look forward to contributing to the nation's renewable energy goals and collaborating with the Government of India and key stakeholders to ensure the success of this initiative under the National Green Hydrogen Mission."

This project aligns with the Government of India's vision for a sustainable future, reinforcing the nation's commitment to green energy solutions while enhancing its industrial capabilities. The awarding of this contract highlights Matrix's expertise and proven track record in delivering innovative energy solutions.

Shares of Godrej Properties Limited was last trading in BSE at Rs. 3034.05 as compared to the previous close of Rs. 3131.70. The total number of shares traded during the day was 15260 in over 2117 trades.

The stock hit an intraday high of Rs. 3173.65 and intraday low of 3017.90. The net turnover during the day was Rs. 47446682.00.

Source : Equity Bulls

Keywords

GodrejProperties INE484J01027 Realty LandAcquisition Vastrapur Ahmedabad