Godrej Properties acquires ~ 48 acres land parcel in Doddaballapur, Bengaluru

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced the acquisition of a ~ 48-acre land parcel through outright purchase in the fast-growing micro-market of Doddaballapur, North Bengaluru. This acquisition further solidifies GPL's footprint in North Bengaluru.

The land is located in a strategic and highly potential area near the Satellite Town Ring Road (STRR). The development on this land will primarily comprise plotted units with a development potential of ~1.1 million square feet.

Doddaballapur is rapidly gaining prominence as a real estate hotspot in North Bengaluru, driven by good connectivity to Kempegowda International Airport, the development of STRR, significant industrial investments, and scenic attractions like Nandi Hills in the vicinity.

Gaurav Pandey, MD & CEO, Godrej Properties, said, "We are pleased to announce the acquisition of this prime land parcel in Doddaballapur, a high-potential micro market in North Bengaluru. This investment reinforces our focus on expanding our presence in key growth corridors through wellplanned residential communities. Bengaluru continues to be a priority market for us, and we look forward to creating a development that offers long-term value to its residents."

Shares of Godrej Properties Limited was last trading in BSE at Rs. 2363.55 as compared to the previous close of Rs. 2337.80. The total number of shares traded during the day was 211494 in over 4724 trades.

The stock hit an intraday high of Rs. 2368.80 and intraday low of 2332.10. The net turnover during the day was Rs. 497685104.00.

Source : Equity Bulls

Keywords

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