Godrej Properties acquires 7% stake in Godrej Skyline Developers

Mumbai-based Godrej Properties on Wednesday (August 20) announced the acquisition of a 7% stake in Godrej Skyline Developers (GSDL) for a total consideration of ₹9.25 lakh from existing shareholders.

The target company, incorporated in November 2016, is primarily engaged in the business of real estate development and related activities, and the sale of residential projects in Mamurdi, Pune, and has a registered office in Mumbai. The company reported a turnover of ₹52.7 crore in FY25.

Under the agreement, Godrej Properties will acquire 92,500 equity shares of ₹10 each, representing 7% paid-up equity share capital of GSDL. The transaction will be completed on August 21.

The transaction is not a related party transaction since no promoter/promoter group/group companies have any interest in the entity being acquired, according to a stock exchange filing.

Q1 performance

For the June quarter, Godrej Properties' net profit rose 15.4% from last year to ₹600 crore, while revenue fell by 41% from the same quarter last year to ₹435 crore. The company also reported an Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) loss at ₹243 crore for the quarter.

Meanwhile, the real estate firm has launched six new projects during the quarter across four cities with a total sales potential of ₹8,500 crore.

Also read: Godrej Properties acquires 48 acre land parcel in Bengaluru, its second in a week

Shares of Godrej Properties closed at ₹2,041.10, up 1.65% on the BSE. The stock is down 26% so far in 2025.