Godrej Properties acquires nearly 20-acre land parcel in Bengaluru; share price jumps 1.5%

The company plans to develop a premium residential project on this site with an estimated revenue potential of approximately ₹1,350 crore, "further strengthening its presence in one of the city’s most active residential micro-markets."

The land parcel is located near NH-648 Main Road, situated within the broader Whitefield growth corridor, a well-established residential and commercial zone that has evolved into a prominent hub for technology firms and service-led employment. Its proximity to the Whitefield–ITPL region and access to the NH-648 corridor provide convenient mobility across East and South Bengaluru.

The location is also supported by operational metro stations at Kadugodi and Hopefarm on the Purple Line, enhancing accessibility to key parts of the city.

The company said in its press release that over the past decade, this micro-market has matured with the development of a strong social infrastructure.

"The presence of reputed schools, healthcare facilities, retail destinations, and leisure avenues has contributed to its evolution into a self-sustained urban ecosystem. Residential demand has remained stable, driven by consistent end-user interest across mid and premium housing categories," the press release added.

What the management said

Commenting on the acquisition, Gaurav Pandey, MD & CEO, Godrej Properties, said, “Homebuyers in Bengaluru continue to prioritise thoughtfully designed communities that offer convenience, holistic amenities, and long-term liveability. This land parcel allows us to plan a residential project that aligns with these expectations in a location that has shown steady and diverse housing demand. We will endeavour to create a development that brings together quality design, functionality, and an enhanced living experience for our customers.”

About Godrej Properties

Godrej Properties Limited (GPL), which is part of the Godrej Group, was founded in 1985. The company’s business area is concentrated in the Mumbai Metropolitan Area, National Capital Region, Pune, and Bengaluru.

With its headquarters in Mumbai, Godrej Properties has a presence in 10 cities.

As of March 31, 2023, the promoters hold 58.48% shares in the company, whereas FIIs, DIIs, and the public hold 29.25%, 4.61%, and 7.66% shares, respectively.

Godrej Properties became a publicly listed company in 2010 with a successful initial public offering (IPO).

Business operations

Godrej Properties develops modern residential spaces. The company’s portfolio comprises residences that combine aesthetic appeal and utility, ranging from luxurious high-rises to mid-range homes.

Godrej Properties combines residential, commercial, and recreational areas. The goal is to establish a self-sufficient environment where people can live, work, and play without compromising on convenience or quality.

These projects give people the chance to construct their own houses on carefully laid-out plots. It helps combine the benefits of an established neighbourhood with the flexibility to personalise one’s living space.