New Delhi, March 13 Godrej Properties Ltd has acquired a 44-acre plot in Coimbatore to develop a housing project, with an estimated revenue of ₹450 crore.
In a regulatory filing on Friday, the company announced that it had acquired the land parcel through a direct purchase and will launch residential plots in this upcoming project.
"The company plans to develop a premium plotted residential project with a developable area of 1.1 million square feet and an estimated revenue potential of ₹450 crore," it added.
Godrej Properties did not disclose the cost of the land.
Gaurav Pandey, MD & CEO of Godrej Properties, said that the company's entry into the Coimbatore property market aligns with its strategy of expanding into high-potential cities across India for plotted development.
"Coimbatore's strong economic base and resilient demand make it an attractive market. We look forward to developing a high-quality plotted community that strengthens our presence in South India," he said.
Godrej Properties is one of the leading real estate developers in the country. It develops group housing projects in the Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, Bengaluru, and Hyderabad. The company undertakes plotted development across various states.