Godrej Properties to develop 18.6-acre parcel in Kandivali

01 Dec 2022 CW Team

Godrej Properties, the real estate development arm of the Godrej Group, has acquired an 18.6-acre land parcel in Mumbai’s Kandivali suburb. This is the 8th project being added by the company to its development portfolio in the current financial year.

The new project will have a developable potential of around 3.72 million sq ft with an estimated revenue potential of nearly Rs 70 billion based on the current business assumptions.

This takes the company’s cumulative expected booking value from projects added in 2022-23 to around Rs 165 billion as against its full year guidance of adding projects with a booking value potential of Rs 150 billion.

In November, Godrej Properties executive chairman Pirojsha Godrej had said the company would soon surpass its own guidance of adding projects.

“This project will allow us to significantly increase our market share in Mumbai over the next several years and fits within our strategy of deepening our presence across key real estate micro markets. We will aim to build an outstanding residential community that creates long term value for its residents,” said Mohit Malhotra, managing director and chief executive officer, Godrej Properties.

The company is planning to develop a project consisting primarily of premium residential apartments with supporting retail spaces.

Godrej Properties; Kandivali; Mumbai; Pirojsha Godrej; Mohit Malhotra

India Office Absorption Rises 26 Per Cent in Q3

Real Estate

14 Oct 2026

Bajaj Alts Raises Rs. 9.5 bn in First Close of Real Estate Fund

Office Leasing Falls 20 Per Cent Across Eight Major Cities

Real Estate

14 Oct 2026

Office Leasing Falls 20 Per Cent Across Eight Major Cities

Gold Stories

Real Estate

01 Oct 2026

Real Estate

01 Oct 2026

Real Estate

01 Oct 2026

Beyond Energy-Efficiency

Infrastructure Transport

14 Oct 2026

Embraer to Acquire 51 Per Cent Stake in Mahindra Aerospace Arm

Brazilian aerospace major Embraer will acquire a 51 per cent equity stake in Novavayu Aerospace, a step-down subsidiary of Mahindra and Mahindra, under an Investment Agreement notified by the automobile company in an exchange filing. The transaction will give Embraer control of the aerospace business. Following completion of the acquisition, Novavayu Aerospace will cease to be a wholly owned subsidiary and become an associate of Mahindra Defence Systems, which is a step-down wholly owned subsidiary of Mahindra and Mahindra. The agreement is expected to be completed on or before December 1. Mah..

Infrastructure Urban

14 Oct 2026

RBI Opens Special Dollar Window for Three State-Run OMCs

The Reserve Bank of India (RBI) has opened a special facility to meet the entire daily US dollar requirements of three public sector oil marketing companies (OMCs), in a move aimed at easing pressure on the Indian rupee. The facility will take effect on October 12, 2026, and remain available until further notice. Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation are eligible to use the arrangement. Under the facility, the RBI will sell US dollars to the three companies through designated banks, allowing them to meet their oil-import payments without sourc..

Building Material

14 Oct 2026

Cement Prices Likely to Rise Rs. 10-15 per Bag from Mid-October

Cement manufacturers in India are likely to raise prices by Rs. 10-15 per bag from mid-October, as they seek to offset persistent increases in power and fuel costs. Emkay Research said its channel checks indicated a high probability of an increase from October 12, supported by the start of the busy construction season and favourable demand-supply conditions. The sector had implemented similar rate adjustments of Rs. 10-15 per bag during the first quarter, but the increases were insufficient to cover higher operating costs. Prices also softened during July and August because of the monsoon, wid..