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Godrej Properties Plans ₹3,000 Cr Land Development in Bengaluru, Pune

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Synopsis:

Godrej Properties plans to develop nearly 2.2 million sq ft in Pune and 9 lakh sq ft in Bengaluru, with revenue potentials of ₹1,800 crore and ₹1,200 crore respectively. They aim for ₹27,000 crore in pre-sales by FY2025.

Godrej Properties Pune Development

Godrej Properties Ltd. has disclosed plans to develop an expansive 11-acre land parcel in Pune, focusing primarily on Group Housing and High Street Retail. According to their exchange filing, the project is set to encompass approximately 2.2 million square feet of developable area, projecting a revenue potential of ₹1,800 crore.

Bengaluru Land Acquisition

In addition to the Pune venture, the company has acquired nearly 7 acres of land in Thanisandra, North Bengaluru. This acquisition is earmarked for a high-end residential project, boasting a developable area of approximately 9 lakh square feet. The projected revenue from this project is estimated at ₹1,200 crore.

Financial Outlook

Godrej Properties continues to strengthen its market position, recently becoming the largest developer by booking volume. They have set ambitious targets, aiming for pre-sales of ₹27,000 crore in the fiscal year 2025, signalling a robust 20% growth from the previous year.

Explore:Godrej Properties Ltd Share Price

The company currently holds an ongoing project inventory of just seven months and plans to launch projects worth nearly ₹30,000 crore across its core markets in the current fiscal year.

Analyst Insight

Industry analysts view Godrej Properties' strategic moves positively, noting their expansion into Pune and Bengaluru as pivotal for market dominance. The company's proactive approach to leveraging prime real estate underscores its commitment to sustainable growth and profitability in India's burgeoning real estate sector.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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