Real estate major Godrej Properties has sold inventory worth more than Rs 1,000 crore at the Evergreen Square housing project in the Hinjawadi suburb of Pune, in Maharashtra, a company statement said on February 27.
The project was launched within four months of acquiring the land in in November 2024 and promises a revenue potential of around Rs 2,045 crore for Godrej Properties.
"We are delighted with the response to our project, Godrej Evergreen Square. This has now become the best-ever launch in Pune residential real estate. We’d like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties," Gaurav Pandey, managing director and chief executive officer of Godrej Properties said.
This is Godrej Properties' best-ever launch in Pune, in terms of volume as well as value of sales. Godrej has a number of other residential projects in the city's key micro markets, largely in the mid-to-premium segment with some forays in higher ticket sizes.
The Pune project has a development potential of around 2.41 million square feet, with the Hinjawadi area being home to most of the city's technology services business. Godrej Properties said Hinjawadi's connectivity with various parts of the city, such as the upcoming Line 3 of the Pune Metro will cut travel time. The area is also located close to the Mumbai-Bengaluru highway as well as the Mumbai-Pune expressway.
Other major national and local developers also have large projects in and around Pune's Hinjawadi area, taking advantage of the employment potential, along with schools, health facilities, and a number of retail and entertainment facilities nearby.
On the National Stock Exchange, Godrej Properties' shares traded steady at Rs 1,983.15 apiece at 09:42 am.
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