Godrej Properties to develop a project in Versova, Mumbai

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced that it has entered into an agreement for development of a prime land parcel in Versova, Mumbai.

This project is estimated to have a developable potential of ~4.4 Lakh square feet of saleable area, comprising primarily of premium residential development of various configurations, with an estimated revenue potential of INR ~1,350 Crores*.

Versova remains a highly desirable location in the Western suburbs, offering good connectivity via the Versova Metro, Western Express Highway, and Link Road. The proposed 'Bandra-Versova Sealink' (BVSL) will further enhance connectivity to Bandra and South Mumbai. Its robust social infrastructure includes top schools, hospitals, and entertainment hubs. Proximity to business districts and ongoing infrastructure development further enhance the area's appeal for homebuyers.

Gaurav Pandey, MD & CEO, Godrej Properties, said, "This is our first land acquisition in Versova and reflects our confidence in the area's potential. It further strengthens our presence in Mumbai and aligns with our growth strategy, which focuses on delivering high-quality developments in high-demand micro-markets."

Shares of Godrej Properties Limited was last trading in BSE at Rs. 2069.45 as compared to the previous close of Rs. 2151.30. The total number of shares traded during the day was 15149 in over 2192 trades.

The stock hit an intraday high of Rs. 2154.05 and intraday low of 2049.75. The net turnover during the day was Rs. 31487541.00.

* On the basis of the current business assumptions.

Source : Equity Bulls

Keywords

GodrejProperties INE484J01027 Realty DevelopmentAgreement LandParcel Versova Mumbai