The share price of Godrej Properties Ltd rose by more than 2% on 24 March after the business purchased 10 acres of land in Bengaluru.
In its regulatory filing, the company said, “announced the acquisition of ~ 10 acres of land in Yelahanka, Bengaluru, which is estimated to have a developable potential of ~ 1.5 million square feet of saleable area, for residential development, with an estimated revenue potential of ~ Rs 2,500 crore.”
The project is set to feature approximately 1.5 million square feet of developable space, primarily comprising premium residential units in various configurations, along with high-street retail outlets.
Situated along NH-44, the land is in a strategic, high-growth zone. Yelahanka, one of North Bengaluru’s fastest-growing residential and commercial hubs, is well-connected to Bengaluru International Airport Road and offers robust social and civic infrastructure, including multi-speciality hospitals, shopping complexes, residential townships, and upcoming commercial developments.
The area also enjoys seamless connectivity to Kempegowda International Airport, the Outer Ring Road (ORR), and key IT hubs, making it a prime location for residential and mixed-use projects.
This acquisition reinforces Godrej Properties’ commitment to expanding in Bengaluru’s high-potential markets.
Gaurav Pandey, MD & CEO of Godrej Properties, stated that Yelahanka is a key micro-market for the company, and adding this land parcel aligns with its strategy of strengthening its presence across India’s major cities.
Earlier this month, the company ended its agreement with TCM (formerly Travancore Chemical & Manufacturing Co. Ltd.) to develop a plot of land in Thrikkakara, Kochi.
The company sold inventory in the Godrej Evergreen Square project in Hinjewadi, Pune, in February for almost Rs 1,000 crore, just four months after acquiring the site.
At 11:27 am, the shares of Godrej properties were trading 1.80% higher at Rs 2,182.45 on NSE.
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