Godrej Properties Ltd. Acquires Noida Land Parcel for ₹331.75 Cr, Projects ₹2,000 Cr Revenue
Godrej Properties Ltd. acquired a 4.95-acre residential land parcel in Noida's Sector 151 for ₹331.75 crore. The company projects over ₹2,000 crore in revenue from the development of premium residential apartments. This strategic acquisition enhances their presence in the National Capital Region.
The acquisition of a large land parcel with a substantial revenue projection is a material event for the company's growth and future earnings.
The company has successfully acquired a significant land parcel in a strategic location, with a strong projected revenue potential, indicating positive business development.
Godrej Properties Ltd. (GPL) has emerged as the highest bidder for a 4.95-acre residential land parcel in Sector 151, Noida, through an e-auction conducted by the New Okhla Industrial Development Authority (NOIDA). The acquisition cost was ₹331.75 crore.
GPL plans to develop a premium residential group housing project on this land, which is projected to generate an estimated revenue potential of over ₹2,000 crore. The development will offer residential apartments in various configurations.
The strategically located plot offers excellent connectivity to the Noida-Greater Noida Expressway and is in proximity to the upcoming Noida International Airport at Jewar. This acquisition follows GPL's recent purchase of a 23.2-acre land parcel in Greater Noida earlier this month, with an estimated revenue potential exceeding ₹7,000 crore.
Gaurav Pandey, MD & CEO of Godrej Properties, expressed satisfaction with the new project in Noida, citing consistent demand and confidence in the market. He stated that this project will strengthen their development portfolio in the National Capital Region and align with their strategy of expanding presence in key Indian cities.
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Godrej Properties Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Godrej Properties Limited. Read the original for the full detail.