Godrej Properties Acquires Land in Indore for Housing Plots - Rs 500 Cr Revenue

New Delhi, Jan 10 (PTI) Real estate company Godrej Properties Ltd on Friday said it has acquired 24-acre land in Indore to develop residential plots and expects around Rs 500 crore revenue from this upcoming project.

In a regulatory filing, Godrej Properties informed it has acquired about 24-acre of land in Indore.

The company did not divulge the total cost of the land parcel.

"The project will have an estimated revenue potential of around Rs 500 crore," Godrej Properties said

The development on this land will primarily comprise premium plotted residential units and will offer an estimated saleable area of around 6.20 lakh square feet.

After acquiring 46-acre in July 2024 on Indore-Ujjain Road, this will be the company's second acquisition in Indore.

Gaurav Pandey, MD & CEO, Godrej Properties, said the company has expanded its presence in Indore with this land acquisition.

"With residential plotted developments gaining momentum, the Indore bypass road presents a promising opportunity for us to expand. This acquisition strategically aligns with our focus on entering high-growth cities through plotted developments," Pandey said.

Godrej Properties is one of the leading real estate developers in the country.