Godrej Properties has bought another piece of land in Hyderabad, marking its second acquisition in the city in a month. The real estate company purchased 3 acres of land in Kokapet near the Outer Ring Road junction, close to Golden Mile Road. They plan to develop high-quality residential projects on this land, with an estimated booking value of ₹1,300 crore.
Last month, Godrej Properties entered the Hyderabad market by acquiring a 12.5-acre land parcel for ₹350 crore. This move is expected to generate revenue potential of ₹3,500 crore. Together, both acquisitions bring the booking value potential in Hyderabad to ₹4,800 crore.
The CEO of Godrej Properties, Gaurav Pandey, expressed satisfaction with the new project in Hyderabad, highlighting the city’s growth potential in the residential real estate market. However, details about the seller and deal value for this latest acquisition were not disclosed.
This acquisition aligns with Godrej Properties’ strategy of developing high-quality residential projects across India’s leading real estate markets. Additionally, the company made several other land acquisitions in the current fiscal year, including in Noida and Bengaluru, with significant revenue potential.
Recently, they purchased 6.46 acres of land in Noida for ₹506 crore, aiming to develop a housing project with an estimated revenue of ₹3,000 crore. They also entered a joint venture to develop a 62-acre township in Bengaluru with an estimated revenue potential of ₹5,000 crore.
In 2022-23, Godrej Properties sold properties worth ₹12,232 crore, showcasing its strong presence in the real estate sector.
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