Godrej Properties gains after acquiring new project in Pune's Upper Kharadi

Godrej Properties advanced 1.95% to Rs 2,477.40 after the company announced that it has acquired an approximately 16-acre land parcel in Upper Kharadi, Pune.

The proposed development will primarily feature premium group housing along with high-street retail, spanning a developable area of approximately 2.5 million square feet. The project is expected to generate an estimated revenue potential of Rs 3,100 crore.

The company stated that the land parcel is strategically located within the promising Kharadi-Wagholi micro-market, offering good connectivity to major commercial hubs and close proximity to IT hubs such as Viman Nagar, Magarpatta, and Hadapsar. The location also offers access to well-developed social infrastructure, including schools, hospitals, malls, restaurants, and premium hotels, further enhancing the areas appeal for homebuyers.

Gaurav Pandey, MD and CEO, Godrej Properties, said, Upper Kharadi has rapidly emerged as one of Punes most promising real estate corridors, driven by its evolving infrastructure and strong connectivity. This marks our second land acquisition in the micro-market, reflecting both the area's growing demand and our commitment to expanding in high-potential urban clusters across India. We will aim to create a thoughtfully designed, future-ready development that delivers long-term value and enhances the quality of life for residents.

Godrej Properties is a leading national real estate developer. It is a real estate arm of Godrej Group. The company currently operates in various cities and focuses on residential, commercial, and township development.

The company's consolidated net profit declined 18.9% to Rs 381.99 crore, despite a 48.8% jump in net sales to Rs 2,121.73 crore in Q4 FY25 over Q4 FY24.

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