New Delhi, March 4 Godrej Properties Ltd, a real estate firm, has purchased a 11.36-acre plot in Gurugram for approximately Rs 1,000 crore to develop a housing project, and it expects revenue exceeding Rs 4,500 crore from this upcoming development.
The company has also won a bid to acquire a 5-acre plot in Kolkata. It will build a housing project on this site and expects revenue of approximately Rs 1,650 crore.
In a regulatory filing on Wednesday, Godrej Properties announced that it had acquired 11.36 acres of land for a residential project in Gurugram, Haryana, through a direct purchase. "This project will offer residential development with an estimated revenue potential of over Rs 4,500 crore," it added.
The plot is located in Sector 63A on the Golf Course Extension Road.
Godrej Properties did not disclose the land cost or the name of the seller. However, market sources said that the land cost would be around Rs 1,000 crore.
In a separate filing, Godrej Properties said it had won the bid, in an e-auction conducted by the West Bengal Housing Infrastructure Development Corporation Ltd, for a 5-acre plot located off EM Bypass, Kolkata.
Regarding the acquisition in Gurugram, Gaurav Pandey, the company's MD and CEO, said, "With this new project, we have now added over Rs 40,000 crore of future sales potential through portfolio additions in FY 26. This represents delivering 2X our business development guidance for the full financial year and makes it our best year for business development in terms of future booking value locked in."
Godrej Properties is well-positioned to deliver sustained strong growth in the years ahead, he added.
"This new acquisition will further enhance our development portfolio in NCR, with good diversification across micro-markets, enabling us to cater to the region's robust demand. Our focus remains on building exceptional residential communities that generate lasting value for residents," Pandey said.
Godrej Properties is one of the leading real estate developers in the country.
To expand its business, the company buys land outright and also enters into joint development arrangements with landowners to develop housing projects.
On the operational front, Godrej Properties' sales bookings rose 25 per cent to Rs 24,008 crore in the first nine months of this fiscal, and it is confident of meeting the target of Rs 32,500 crore for the full 2025-26 fiscal.
