Godrej Properties emerges as highest bidder for two land parcels in Greater Noida; check out the total bid value

Godrej Properties, in its regulatory filing on Friday, August 9, said the company participated in an e-auction conducted by the Greater Noida Industrial Development Authority (GNIDA) for Residential Group Housing Plots, where it has emerged as the highest bidder for two land parcels with a total combined bid value of ₹842 crore, according to the e-tendering portal of SBI.

GNIDA shall issue the allotment letters after following the due process.

"Spread over nearly 9.5 acres in Sector Sigma III and nearly 8 acres in Sector 12, the land parcels are strategically located in one of the prime locations in Greater Noida," the company's release added.

The land parcels together will offer a development potential of nearly 3.75 million square feet and an estimated revenue potential of over ₹5,000 crore, comprising premium residential apartments of varied configurations, as per the company.

Reacting to the development, shares of the company were trading over 2% higher at ₹2,944.40 apiece on the BSE.

The realty firm last month reported a more than four-fold jump in consolidated net profit to ₹520.05 crore in the first quarter of this fiscal year and clocked a nearly four-fold increase in sales bookings to ₹8,637 crore during the June quarter amid strong housing demand.

Its net profit stood at ₹124.94 crore in the year-ago period. The total income grew to ₹1,699.48 crore during the April-June period of 2024–25 fiscal from ₹1,265.98 crore in the corresponding period of the previous year.

The total expenses fell to ₹921.45 crore from ₹1,121.89 crore during the period under review.

In the previous financial year, it emerged as the largest listed real estate firm in terms of sales bookings by selling properties worth over ₹22,000 crore.