Godrej Properties acquires ~ 16-acre land parcel in Upper Kharadi, Pune

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced that it will develop ~ 16-acre land parcel in Upper Kharadi, Pune.

The development on this land will primarily comprise premium group housing and high-street retail. The project will have a developable potential of ~ 2.5 million square feet with an estimated revenue potential of ~ INR 3,100 crore *.

This is the company's second land acquisition this month in the Kharadi-Wagholi belt, taking the estimated cumulative revenue potential from the two developments to approximately INR 7,300 crore*.

The land parcel is strategically located within the promising micro-market of Kharadi-Wagholi, offering good connectivity to major commercial hubs, and is in close proximity to IT hubs in Viman Nagar, Magarpatta, and Hadapsar. The location also offers access to well-developed social infrastructure, which includes schools, hospitals, malls, restaurants, and premium hotels, further enhancing the area's appeal for homebuyers.

Gaurav Pandey, MD and CEO, Godrej Properties, said, "Upper Kharadi has rapidly emerged as one of Pune's most promising real estate corridors, driven by its evolving infrastructure and strong connectivity. This marks our second land acquisition in the micro-market, reflecting both the area's growing demand and our commitment to expanding in high-potential urban clusters across India. We will aim to create a thoughtfully designed, future-ready development that delivers long-term value and enhances the quality of life for residents."

Shares of Godrej Properties Limited was last trading in BSE at Rs. 2429.95 as compared to the previous close of Rs. 2405.30. The total number of shares traded during the day was 27652 in over 2679 trades.

The stock hit an intraday high of Rs. 2441.00 and intraday low of 2386.90. The net turnover during the day was Rs. 66768063.00.

*On the basis of the current business assumptions.

Source : Equity Bulls

Keywords

GodrejProperties INE484J01027 Realty LandAcquisition 16Acres UpperKharadi Pune