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Godrej Properties buys 9-acre in Pune; eyes Rs 1,400 crore revenue from housing project

The project located at Pimpri-Chinchwad in Pune will have a developable potential of about 1.7 million square feet of saleable area, with an estimated revenue potential of about Rs 1,400 crore, the company said in a regulatory filing.

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Realty firm Godrej Properties Ltd on Wednesday said it has acquired a 9 acres land parcel in Pune to develop a housing project with an estimated revenue of Rs 1,400 crore.

The project located at Pimpri-Chinchwad in Pune will have a developable potential of about 1.7 million square feet of saleable area, with an estimated revenue potential of about Rs 1,400 crore, the company said in a regulatory filing.

Mohit Malhotra, MD and CEO, Godrej Properties, said, "Pimpri Chinchwad is an important micro-market in Pune and we are happy to add this land parcel to our portfolio.”

This will further expand the company’s presence in Pune and fits with its strategy of deepening presence in key micro markets across India’s leading cities, he added.