Godrej Properties emerges as highest bidder in e-auction conducted by Haryana Shehri Vikas Pradhikaran to develop two housing plots

Godrej Properties said the plot measuring 3.6 acres is located in the prestigious Golf Course Road micro-market whereas the plot measuring 1.97 acres is strategically located in Sector 39 with proximity to NH 48.

“The land parcels together will offer a development potential of over one million square feet and an estimated revenue potential of over ₹3,400 crore comprising luxury residential apartments of varied configurations. With its well-planned infrastructure and proximity to prominent landmarks, both the micro-markets offer residents a high-quality lifestyle and convenient connectivity,” the firm stated.

Gaurav Pandey, MD & CEO, Godrej Properties, said the firm has witnessed strong demand for its projects in the NCR market.

Recently, the firm said it had participated in an e-auction conducted by the Greater Noida Industrial Development Authority (GNIDA) for residential group housing plots, where it emerged as the highest bidder for two land parcels with a total combined bid value of ₹842 crore.

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

Meanwhile, during the first quarter of fiscal year 2025, consolidated total income rose 25% year-on-year (YoY) to ₹1,638 crore. Adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 169% YoY to ₹852 crore. Net profit rose 316% YoY to ₹520 crore during the quarter.

The firm’s booking value grew by 283% to ₹8,637 crore in the quarter while collections grew by 54% to ₹3,012 crore.

Shares of the firm have risen by nearly 45% since the beginning of the year. The stock has gained over 75% in the last one year.