Godrej Properties eyes Rs 1,350 cr revenue from Mumbai housing project

The development will offer approximately 4.4 lakh square feet of saleable area, focusing on premium residential units, with an estimated revenue potential of Rs 1,350 crore

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Godrej Properties Ltd, one of India’s leading real estate developers, on Friday announced a significant expansion of its Mumbai portfolio with a new project in the prime location of Versova in the city's western suburbs. The company is all set for the development of a strategically located land parcel, marking its first foray into this highly sought-after suburb.

 

The proposed development is expected to offer a saleable area of approximately 4.4 lakh square feet, with a primary focus on premium residential units. Based on current business assumptions, the project is anticipated to generate an estimated revenue potential of  Rs 1,350 crore.

 

Versova's appeal lies in its excellent connectivity, which is serviced by the Versova-Ghatkopar metro, Link Road, and relative proximity to the Western Express Highway. The upcoming Bandra-Versova Sea Link (BVSL) is set to further improve connectivity to Bandra and South Mumbai, making the area even more attractive to homebuyers. The neighbourhood also offers a strong social infrastructure, including schools, hospitals, parks, and entertainment hubs. Versova is also close to the seafront, offering easy access to the beach.

 

Gaurav Pandey, managing director and chief executive officer of Godrej Properties, emphasised the strategic importance of this acquisition, saying, "This is our first land acquisition in Versova and reflects our confidence in the area's potential. It further strengthens our presence in Mumbai and aligns with our growth strategy, which focuses on delivering high-quality developments in high-demand micro-markets.”