Godrej Properties acquires land in Kolkata for residential development

Joka's 53-acre land parcel holds a Rs 500 crore revenue potential.

Godrej Properties has announced the acquisition of a 53-acre land parcel in Joka, Kolkata. The company plans to develop a residential plotted development project on this land, with an estimated development potential of 1.3 million square feet and a revenue potential of approximately Rs 500 crore.

Joka, a rapidly developing micro-market, is strategically located close to the main city and Diamond Harbour. The area has seen significant infrastructure growth, including the upcoming Kolkata Metros Line 3, which will enhance connectivity to key areas of the city.

Gaurav Pandey, MD & CEO of Godrej Properties, expressed optimism about the project, stating that it aligns with the company's strategy of expanding its presence in major Indian cities. The company aims to create a high-quality plotted development that delivers long-term value to its residents.

 

Godrej Properties is the largest developer in India by the value of residential sales achieved. The company's consolidated net profit surged 402% YoY to Rs 335.21 crore in Q2 FY25. Revenue also skyrocketed 219% to Rs 1,093.23 crore.

Powered by Capital Market - Live News