Godrej Properties expects to face an estimated financial impact of around Rs. 700 mn after settling disputes related to its Godrej Air project in Gurugram with partner Orris Infrastructure. The company said the settlement agreement is being implemented and that it will update its public disclosure after the agreed actions are completed.

The disputes involved the Godrej Air project, which was developed through a partnership between the two firms. The settlement follows the arrest of Orris Infrastructure Managing Director Amit Gupta by Mumbai Police last month over allegations of forgery, cheating and criminal breach of trust in connection with the project.

According to earlier reports, Gupta was arrested in relation to FIR number 0183/2026, registered at Vikhroli police station on March 17 after a complaint by Nishikant Bapusaheb Patil, an adviser in Godrej Properties' legal and secretarial department. Godrej Properties had alleged that statutory records of the limited liability partnership (LLP) filed with the registrar of companies were altered without authorisation and that false documents were used for the filings.

The two firms subsequently reached an amicable settlement following discussions that continued for more than a month. Under the Settlement Agreement dated August 25, 2026, the disputes were conclusively resolved, with the arrangement also intended to protect the interests of homebuyers in the project.

The Bombay High Court directed Gupta's immediate and unconditional release on August 25. Godrej Properties said both parties were undertaking the steps required under the agreement and that the implementation process was under way. It added that further disclosure before completion would be premature, and said an appropriate update would be made after the relevant actions and compliance status were placed before the court at the next hearing on September 24, 2026.

The company said it follows different dispute-resolution strategies depending on the nature and circumstances of each matter. Shares of Godrej Properties ended at Rs. 1,869 apiece on the Bombay Stock Exchange (BSE) on Thursday, gaining 0.48 per cent during the day.