The project will have an estimated revenue potential of approximately Rs 2,500 crore.
The real estate developer announced that it has acquired approximately 9 acres of land in Gurugram, Haryana through an outright purchase. This project will offer approximately 1.6 million square feet of premium residential development with exceptional lifestyle amenities.The site is strategically located with easy access from Golf Course Road Extension, also known as Southern Peripheral Road.
Gaurav Pandey, MD & CEO Designate, Godrej Properties, said, "Gurugram is an important market for us and we are happy to add this city center land parcel to our portfolio. Golf Course Road Extension is an established and premium micro-market with good civic and social infrastructure. We aim to build premium residential spaces with best in class amenities. This project will allow us to significantly increase our market share in Gurugram over the next several years and fits within our strategy of strengthening our presence in key micro markets."
Golf Course Road Extension is one of the most premium micro-markets of NCR offering quality residential, corporate and retail developments.
Godrej Properties is engaged primarily in the business of real estate construction, development and other related activities. In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved.
Its consolidated net profit rose 53.8% to Rs 54.96 crore on 27.7% jump in net sales to Rs 165.09 crore in Q2 FY23 over Q2 FY22.
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Shares of Godrej Properties declined 0.09% to Rs 1232.60 on Wednesday, 28 December 2022.
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