Godrej Properties wins 7.5-acre plot for luxury development in Gurugram

07 Nov 2024 CW Team

Godrej Properties (GPL) has secured a 7.5-acre plot on Golf Course Road, Gurugram, through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP). The plot offers a development potential of over 1.7 million square feet for luxury residential apartments, with an estimated revenue potential of Rs 5,500 crore. This marks the 11th project acquired by GPL in FY25, taking its total business development value to Rs 22,950 crore, exceeding its annual target of Rs 20,000 crore.

GPL’s recent growth is highlighted by strong sales bookings, with a five-fold increase in net profit to INR 335.21 crore and an 89% rise in bookings to over INR 13,800 crore for FY24. Managing Director Gaurav Pandey stated that this acquisition will strengthen GPL’s presence in the NCR market, responding to the growing demand for high-end housing.

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