Godrej Properties highest bidder for Noida land parcels with Rs 377-cr bid

Realty firm Godrej Properties Ltd on Saturday said it has been declared as the highest bidder for two adjacent land parcels in Noida with a bid of Rs 377 crore.

The company said in a regulatory filing that it has been declared as highest bidder as per the e-tendering portal of SBI, which facilitated the e-auction on behalf of Noida Authority.

The company will develop residential group housing on the adjacent land parcels located in Sector 146, Noida.

Spread over 12.4 acres, the land parcels will offer about 3.2 million square feet of development potential.

Mohit Malhotra, MD and CEO, Godrej Properties, said, "We have witnessed strong demand for our existing projects in Noida and these projects will further strengthen our development portfolio in NCR (National Capital Region). This fits well with our strategy of deepening our presence in key micro markets across India's leading cities."

Godrej Properties is one of the leading real estate developers in the country.