Company News: Godrej Properties

Godrej Properties has entered into joint ventures with local developers and land-owners to develop three real estate projects in Bengaluru and Noida. The company has entered into a joint venture with Sai Srushti Group to develop a 100-acre land parcel in North Bengaluru, Godrej Properties said in a statement. This will be the company’s first plotted development project with about 2.15 million sq ft area. The second project in Bengaluru is a joint venture with the promoters of Lahari Music Group, south India’s biggest music group, to develop 17 acres of land, with the possibility of further extending the development to 24 acres. Godrej Properties plans to develop a housing project of about 1.4 million sq ft with an option to further increase it to 2 million sq ft. Shares of Godrej Properties closed at ₹807.45, up 0.67 per cent, on the NSE.