Godrej Properties secures plot in Gurugram, company surpasses FY25 business development guidance

Godrej Properties secured the Letter of Intent to develop a luxury group housing plot on Golf Course Road in Gurugram. The plot was secured through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP).

The company reported that the plot measures 7.5 acres and has a development potential of 1.7 million square feet. The project will feature luxury apartments in various configurations offering an estimated revenue potential of ₹5,500 crore.

In the previous financial year, the company had acquired two land parcels measuring 5.15 acres and 2.76 acres located in the Golf Course Road micro-market. The company plans to launch the two projects in FY25. Godrej Properties stated that the total estimated revenue potential of the company’s developable land on Golf Course Road is over $1.5 billion.

Gaurav Pandey, managing director and chief executive officer of Godrej Properties, said, that the company has seen strong demand in the NCR region. The new acquisition will solidify the company’s position in the market along with meeting the demand requirements.

“I am very confident that this new acquisition will further strengthen our development portfolio in NCR as well as cater to strong demand for our products in this market,” he said.

In Q2FY25, the company’s net profit saw a significant surge as it grew 402% year-on-year (YoY) to ₹335 crore. The company’s total consolidated income jumped 135% YoY to ₹1,343 crore. The earnings before interest, taxes, depreciation, and amortisation (EBITDA) were up 69% YoY to ₹282 crore.

Shares of the company have risen by nearly 46% since the beginning of the year. The stock has gained over 85% in the past year.