Godrej Properties wins bid to acquire 2 plots in Gurugram; develop luxury homes with Rs 3,100 crore revenue potential

Godrej Properties wins bid to acquire 2 plots in Gurugram; develop luxury homes with Rs 3,100 crore revenue potential

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26 Aug, 2025 12:21

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Real Estate firm Godrej Properties announced that it has emerged as the highest bidder and has secured the Letter of Intent (LOI) to develop two group housing plots through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP).

These two land parcels, measuring eight acres, are strategically located in the Golf Course Road micro-market. Golf Course Road is an established micro-market renowned for its upscale residential and commercial developments, making it an attractive destination for real estate development.

With its well-planned infrastructure and proximity to prominent landmarks, Golf Course Road offers residents a high-quality lifestyle and convenient connectivity.

Gaurav Pandey, MD and CEO, Godrej Properties, in a statement on July 13 said, “Our foray into the prime Golf Course Road Micro-market with two luxury residential projects marks a significant milestone for Godrej Properties. It aligns well with our expansion strategy and will further solidify our position as a leading real estate developer in NCR. We will aim to build an outstanding residential community that creates long-term value for its residents.”

Godrej Properties did not disclose the total purchase amount for these two residential plots.  "The two prime projects spread over 2.76 acres and 5.15 acres, respectively, would have a combined estimated revenue potential of about Rs 3,100 crore," it said in the regulatory filing.

Last fiscal, Godrej Properties was very aggressive on land acquisition and added 18 new land parcels with a sales potential of Rs 32,000 crore post-development.

During the last 2022-23 financial year, sales bookings rose 56 percent to an all-time high of Rs 12,232 crore, and almost all were housing properties.

Godrej Properties, an arm of business conglomerate Godrej Group, is one of the leading real estate developers in the country. It mainly focuses on Delhi-NCR, Mumbai Metropolitan Region, Bengaluru and Pune for the development of residential projects.

During the 2022-23 fiscal, the company's net profit increased to Rs 571.39 crore from Rs 352.37 crore in the previous year. The total income also grew to Rs 3,039 crore last fiscal from Rs 2,585.69 crore in 2021-22.

(With inputs from PTI)