New Launch25 Oct 2024, 01:32 pm
Godrej Properties Emerges as Highest Bidder for Luxury Group Housing Plot in Gurugram with INR 5,500 Crore Revenue Potential
AI Summary
Godrej Properties Ltd. (GPL) has secured the Letter of Intent to develop a group housing plot at Golf Course Road in Gurugram through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP). The 7.5-acre plot offers a development potential of over 1.7 million square feet and has an estimated revenue potential in excess of INR 5,500 crore. This is the 11th new project GPL has acquired in FY25, taking the booking value added through new projects to INR 22,950 crore, surpassing its full year business development guidance of INR 20,000 crore. GPL plans to launch two other projects in the current financial year in the same micro-market.
Key Highlights
- GPL has emerged as the highest bidder for a Luxury Group Housing Plot on Golf Course Road in Gurugram with a revenue potential in excess of INR 5,500 crore.
- This is the 11th new project GPL has acquired in FY25, taking the booking value added through new projects to INR 22,950 crore.
- GPL's new acquisition will strengthen its development portfolio in NCR and cater to strong demand for its products in this market.
- GPL has two other projects in the Golf Course Road micro-market, with an estimated revenue potential of over USD 1.5 billion.
- GPL is committed to cutting-edge design, technology, and sustainability, and has received over 400 awards and recognitions.