Mid-Cap Realty Company Emerges Highest Bidder for Luxury Group Housing Plot on Golf Course Road in Gurugram, Revenue Potential Over Rs 5,500 Crore – DIIs Increase Stake

The company’s shares have delivered over 80 per cent in the past 1 year.

Godrej Properties Ltd is a Mid-Cap realty company and it is one of India's premier real estate developers, has announced securing the Letter of Intent (LoI) for a prime group housing plot on Golf Course Road, Gurugram, further expanding its footprint in one of the National Capital Region's most prestigious micro-markets.

In a significant win through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP), Godrej Properties emerged as the highest bidder for a 7.5-acre plot on the highly sought-after Golf Course Road. This project will feature over 1.7 million square feet of luxury residential apartments, designed to cater to high-end customers with varying preferences. The estimated revenue potential for this development exceeds Rs 5,500 crore, underscoring the lucrative market demand and the company's strategic expansion in the NCR region.

This acquisition marks GPL's third major land acquisition on Golf Course Road in FY24. Earlier this year, the company acquired two other prime parcels spanning 5.15 acres and 2.76 acres in the same area, both planned for launch in the current financial year. With these three key projects, GPL’s developable land on Golf Course Road in Gurgaon is estimated to generate revenue of over USD 1.5 billion.

Gaurav Pandey, Managing Director and CEO of Godrej Properties expressed optimism about the acquisition, stating, “We have witnessed strong demand for our projects in the NCR market, demonstrating the huge trust and confidence which our customers have placed in us. I am very confident that this new acquisition will further strengthen our development portfolio in NCR as well as cater to the strong demand for our products in this market. We will aim to build outstanding residential communities that create long-term value for its residents.”

The recent developments highlight GPL's focused approach to expanding in high-demand, strategic markets with projects that meet the growing needs for luxury housing in NCR. With the upcoming launches, Godrej Properties is set to solidify its position in the Golf Course Road micro-market, delivering premium, customer-centric developments in one of India’s most exclusive real estate corridors.

Currently, the shares of Godrej Properties Ltd are trading at around Rs 2920.85 each on the BSE and the current market capitalization is around Rs 81,200 crore. additionally, the shares have delivered an impressive return of over 80 per cent in the past 1 year.

DIIs have increased their stake from 5.62 per cent to 7.12 per cent in Q2FY25.

Disclaimer: The article is for informational purposes only and not investment advice.