Godrej Properties Embarks on Majestic Kolkata Venture: Acquires 7.44 Acre Land for Residential Project

Godrej Properties Embarks on Majestic Kolkata Venture, Acquires 7.44 Acre Land for Residential Project

Godrej Properties unveils its masterpiece in Kolkata! Witness the harmonious blend of luxury and nature on a sprawling 7.44-acre land.

Godrej Properties, one of India’s leading real estate developers, has emerged as the highest bidder in an e-auction conducted by the West Bengal Housing Infrastructure Development Corporation.

The company has successfully acquired a sprawling 7.44-acre land in the New Alipore area of Kolkata. This exciting acquisition marks yet another significant milestone for Godrej Properties Limited (GPL) as it continues to expand its presence in the thriving real estate market.

With a vision to create a masterpiece, Godrej Properties plans to develop the newly acquired land into a luxury housing project. The project’s estimated developable potential is around 9.8 lakh square feet, with an estimated revenue potential of approximately Rs 1,200 crore.

Gaurav Pandey, the Managing Director and CEO of Godrej Properties expressed his excitement about the venture, stating, “The demand for luxury realty has been strong over the past few years. This will be our second luxury development in the city.”

The company’s recent financial performance has been nothing short of remarkable. During the March 31, 2023 quarter end, Godrej Properties recorded a phenomenal growth of 75.48 per cent in its consolidated net profit. The profit after tax soared to an impressive Rs 453.87 crore in Q4 FY2023, compared to Rs 258.65 crore in the corresponding quarter of the previous fiscal year.

As Godrej Properties embarks on this exciting journey to create a luxury haven in New Alipore, anticipation and excitement are running high among investors and homebuyers.