Godrej Properties Ltd, the Mumbai-based real estate developer, announced the acquisition of a 53-acre land parcel in Joka, Kolkata, marking a significant expansion in its portfolio. The planned project is expected to generate a potential revenue of Rs 500 crore, primarily through residential plotted developments.
The project will offer 1.3 million square feet of saleable space, strategically located in the rapidly growing Joka micro-market, close to the city center and the popular Diamond Harbour. The acquisition aligns with the company’s strategy to strengthen its presence in India’s key cities.
Gaurav Pandey, Managing Director and CEO of Godrej Properties, stated, “This land acquisition fits with our strategy of deepening our presence across India’s leading cities. We will aim to build an outstanding plotted development project in Joka that creates long-term value for its residents.”
Earlier, Godrej Properties revealed that it had surpassed its Rs 20,000 crore full-year business development target last month. The company has achieved Rs 13,835 crore in bookings, representing 51% of its yearly estimate, as per its MD and CEO.
Pandey also emphasized that the company is experiencing a “dream run,” delivering exceptional results quarter after quarter. Shares of Godrej Properties rose following the announcement, reflecting investor optimism about the company’s robust growth trajectory.
