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Godrej Properties Limited (GPL) has secured a 7.5-acre luxury housing plot on Golf Course Road, Gurugram, through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP), the company announced today. The development is expected to generate revenue exceeding ₹5,500 crore.
The shares of Godrej Properties Limited (GPL) were trading flat at ₹2,927.05 on the NSE today at 12.50 pm.
The project will offer over 1.7 million square feet of development potential for luxury residential apartments. This acquisition marks GPL’s eleventh new project in FY25, bringing its total booking value from new projects to ₹22,950 crore, surpassing its annual business development target of ₹20,000 crore.
This is GPL’s third acquisition in the Golf Course Road micro-market, following two land parcels of 5.15 acres and 2.76 acres secured in FY24. The company plans to launch these previous projects within the current financial year. The combined estimated revenue potential of GPL’s developable land on Golf Course Road now exceeds $1.5 billion.
- Also read: Godrej Properties Q2 net profit surges fivefold; bottomline aided by deferred tax liability
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