Godrej Properties acquires 10 acres of land in Bengaluru for Rs 2,500 cr project

Godrej Properties (GPL) has announced the acquisition of approximately 10 acres of land in Yelahanka, Bengaluru, for a new development project with an estimated revenue potential of Rs 2,500 crore.

The project is expected to have a developable area of around 1.5 million square feet, primarily consisting of premium residential units in various configurations, along with high-street retail spaces.

The land is located along NH-44, in a strategic and high-potential area. Yelahanka is one of the fastest-growing residential and commercial real estate markets in North Bengaluru, known for its proximity to key infrastructure such as the Bengaluru International Airport Road. The area offers well-developed social and civic amenities, including renowned multi-specialty hospitals, shopping complexes, residential townships, and upcoming commercial projects.

Additionally, Yelahanka benefits from excellent connectivity to the Kempegowda International Airport, the Outer Ring Road (ORR), and major IT hubs, making it an attractive destination for both residential and mixed-use developments. This acquisition underscores Godrej Properties' commitment to delivering high-quality developments in key growth areas of Bengaluru.

Gaurav Pandey, MD & CEO, Godrej Properties said, Yelahanka is an important micro market for us, and we are happy to add this land parcel to our portfolio. This will further strengthen our presence in Bengaluru and complement our strategy of deepening our presence in key micro markets across India's leading cities.

Godrej Properties is the real estate arm of the Godrej Group. It is a subsidiary of Godrej Industries, which holds 44.77% of the company's equity shares as of 31 December 2024. The company currently operates in various cities and focuses on residential, commercial, and township development.

On a consolidated basis, the real estate major's net profit surged 161% to Rs 163 crore while total income jumped 133% to Rs 1,222 crore in Q3 December 2024 over Q3 December 2023.

The counter rose 1.51% to end at Rs 2,140.25 on the BSE on Friday.

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