Bengaluru, January 2, 2024, Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has purchased a ~ 4-acre land parcel on an outright basis. The land is located in Yeshwanthpur abutting the National Highway - 75, one of the prime locations in Bengaluru.
This project is estimated to have a developable potential of approximately 0.7 million square feet of saleable area comprising primarily of premium residential apartments of various configurations with an estimated revenue potential of INR 1,000* Crore with scope to increase to INR 1,250* Crore basis additional 1-acre land acquisition, making it overall a ~ 5-acre parcel.
The site is strategically located with a huge frontage on National Highway - 75, Yeshwanthpur. The area offers well-developed commercial and social infrastructure and is in proximity to Goraguntepalya and Peenya metro stations providing access to the Central Business District, (CBD) and other parts of Bengaluru. The location also provides connectivity to the Kempegowda International Airport, Bengaluru, and other key areas of Bengaluru through Outer Ring Road – Hebbal.
Gaurav Pandey, MD & CEO, Godrej Properties said, “Yeshwanthpur is an important micro market for us, and we are happy to add this land parcel to our portfolio. This will further strengthen our presence in Bengaluru and complement our strategy of deepening our presence in key micro markets across India's leading cities.”
* On the basis of the current business assumptions.
About Godrej Properties Limited:
Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 126-year legacy of excellence and trust with a commitment to cutting-edge design, technology, and sustainability. In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved.
Godrej Properties has deeply focused on sustainable development. In 2010, GPL committed that all of its developments would be third-party certified green buildings. In 2020 and again in 2021 and 2022, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and governance practices. In 2017, GPL was one of the founding partners of the Sustainable Housing Leadership Consortium (SHLC), whose mission is to spread sustainable development practices across the Indian real estate sector. In recent years, Godrej Properties has received over 400 awards and recognitions, including the Porter Prize 2019, The Most Trusted Real Estate Brand in the 2019 Brand Trust Report, Builder of the Year at the CNBC-Awaaz Real Estate Awards 2019, and The Economic Times Best Real Estate Brand 2018.
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