Godrej Properties partners with Hero Cycles

Godrej Fund Management and Godrej Properties have entered into a joint venture agreement with Hero Cycles to develop a prime office development on Golf Course Road, Gurgaon. Godrej Fund Management is the real estate private equity arm of the Godrej Group, and Godrej Properties Limited is one of India's leading real estate developers.

The JV will develop, lease, and manage 1 million square feet of prime office and retail space on the 4-acre property. The Golf Course Road property in Gurgaon is one of the most desirable commercial locations in India. The project site is in close proximity to a multitude of established and leading commercial, retail, and residential destinations.

GFM manages over US$1 billion of capital across four funds in residential and commercial real estate. Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines 121 years legacy of excellence and trust with a commitment to cutting-edge design and technology.

On Friday, the stock of Godrej Properties had closed at Rs 652.25 per share. On Monday, it opened at Rs. 658 and surged by 3.8 per cent and made intra-day high of Rs. 677.40. It closed at Rs 671.35.