Godrej Properties shares gain on winning bid for two luxury plots in Gurugram, eyes Rs 3,400 crore revenue

Over the past year, shares of Godrej Properties have risen around 77 percent.

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26 Aug, 2025 12:21

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Shares of Godrej Properties gained in early trade on September 2, after the realty player was chosen as the highest bidder to develop two luxury group housing plots in Gurugram.

Godrej Properties secured the Letter of Intent to develop the two housing plotthrough an e-auction conducted by the Haryana Shehri Vikas Pradhikaran. The combined bid value for both the plots is Rs 515 crore.

At 9.15 am, Godrej Properties shares were quoting Rs 2,943 on the NSE, higher by about a percent.

Combined, the land parcels together will offer a development potential of over 1 million square

feet and an estimated revenue potential of over Rs 3,400 crore comprising luxury residential

apartments of varied configurations.

One of the plots is around 3.6 acres and is located in the prestigious Golf Course Road micro-market whereas the second plot measuring 1.97 acres is strategically located in Sector 39 with proximity to NH 48.

In the previous fiscal year, Godrej Properties bought two prime parcels of 5.15 acres and 2.76 acres in Golf Course Road micro-market from HSVP at auction and plans to launch both these projects in FY 25.

"Additionally, the firm also won auctions for two land parcels in Greater Noida in the current quarter, which combined with these two new additions in Gurugram, has allowed GPL to greatly strengthen its NCR portfolio with 4 projects with a total estimated revenue potential in excess of $1 billion," said the company in a filing with the exchanges.

Over the past year, shares of Godrej Properties have risen around 77 percent, outperforming the benchmark Nifty 50 index that has gained around 30 percent during the same time.