Godrej Properties' 1,500 Cr Bengaluru Housing Project

Mumbai, Jun 16 (PTI) Realty firm Godrej Properties Ltd has acquired 14-acre land in Bengaluru to develop a premium housing project with an estimated revenue of Rs 1,500 crore.

In a regulatory filing on Monday, the company informed it will develop a premium residential project on a strategically located 14-acre land parcel in Hoskote, East Bengaluru.

"The proposed development is expected to offer approximately 1.5 million square feet of saleable area with an estimated revenue potential of about Rs 1,500 crore," it added.

Godrej Properties said this acquisition further solidifies the company's continued expansion in East Bengaluru.


The company did not share the land acquisition cost.

Gaurav Pandey, MD and CEO, Godrej Properties, said, “Hoskote is an important micro market for us in East Bengaluru. It continues to demonstrate strong demand for high-quality housing and aligns with our vision of developing best-in-class residential communities."

Earlier this month, Godrej Properties acquired 14-acre land in Pune for around Rs 800 crore to develop a housing project.

The company expects a revenue of Rs 4,200 crore from the Pune project, which has a developable potential of 3.7 million square feet.

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