Godrej Properties advanced 2.28% to Rs 2,087.60 after the company announced that it had emerged as the highest bidder for a 7.825-acre residential land parcel in Hyderabad.
The project, with an estimated revenue potential of around Rs 3,800 crore, was awarded through an e-auction conducted by the Telangana Housing Board (TGHB).According to an exchange filing, Godrej Properties submitted a winning bid of Rs 547.75 crore for the land parcel located in Kukatpally (KPHB), Hyderabad, as confirmed by MSTC, the e-auction facilitator. The allotment letter will be issued by TGHB upon completion of the required formalities.
The land parcel, strategically located near HITEC City, is projected to generate estimated revenue of approximately Rs 3,800 crore through the development of premium residential apartments with varied configurations.
The company stated that this acquisition builds on the success of its recent launches in Hyderabad, including Godrej Madison Avenue at Kokapet and Godrej Regal Pavilion at Rajendranagar. With this new project, Godrej Properties has further strengthened its presence in one of Indias most dynamic real estate markets.
Kukatpally is recognized as one of Hyderabads most established and resilient residential corridors. The neighbourhood has set benchmarks for premium housing and is supported by a robust social ecosystem comprising reputed educational institutions, healthcare facilities, retail, and commercial hubs. Its connectivity to HITEC City, one of Hyderabads largest employment centers, further enhances its residential appeal.
Gaurav Pandey, MD & CEO, Godrej Properties, said, As Hyderabad continues to strengthen its position as a dynamic real estate market, Kukatpally represents a strategic location that aligns with the citys growth trajectory. Building on the strong response to our recent launch, Godrej Madison Avenue at Kokapet, our presence here allows us to bring national-scale expertise while designing future-ready developments that create long-term value for our residents.
Godrej Properties is a leading national real estate developer. It is a real estate arm of the Godrej Group. The company currently operates in various cities and focuses on residential, commercial, and township development.
The company's consolidated net profit jumped 15.4% to Rs 600.12 crore, despite a 41.2% fall in net sales to Rs 434.56 crore in Q1 FY26 over Q1 FY25.
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