Godrej Properties to develop 30-acre Bengaluru township, targets Rs 3,500 crore revenue
New Delhi: Godrej Properties has strengthened its presence in Bengaluru with the acquisition of a 30-acre land parcel in the southern part of the city, where it plans to develop a large premium township project expected to generate Rs 3,500 crore in revenue.
The real estate major, which purchased a 26-acre plot in Sarjapur in October for a housing project worth an estimated Rs 1,100 crore, said in a regulatory filing on Thursday that it has now added another 3.8 acres to the existing land bank. This expansion unlocks an additional Rs 2,400 crore in potential revenue and adds 2 million sq ft of development capacity.
With the newly combined holding, the company will undertake an integrated group housing township with a total development potential of 3 million sq ft. The enhanced scope, Godrej Properties said, is primarily due to higher FSI (Floor Space Index) approvals across the consolidated parcel.
Gaurav Pandey, managing director and CEO of Godrej Properties, said the expansion allows the firm to create a significant residential enclave aligned with its focus on sustainable and holistic community development.
Godrej Properties, among the country’s top real estate developers, continues to accelerate its growth plans in key metropolitan markets, with Bengaluru emerging as one of its strongest investment hubs.
(with inputs from agencies)
