Godrej Properties says South Bengaluru land has revenue potential of ₹1,100 crore; Stock in focus

Shares of Godrej Properties Ltd. are in focus on Wednesday, October 15, after the company said it has acquired a 26 acre land parcel near Sarjapur Road, in south Bengaluru, with an estimated revenue potential of ₹1,100 crore.

The company said it will develop a residential project on the land.

The location has easy connectivity to key employment hubs such as Whitefield, Outer Ring Road, and Electronic City. It also has access to schools, hospitals, retail centers and leisure avenues, it said.

Godrej Properties has developments such as Godrej Park Retreat, Godrej Lakeside Orchards in South Bengaluru.

"As Bengaluru continues to consolidate its position as one of India’s most dynamic real estate markets, the Sarjapur Road corridor stands out as a key growth hub within the city’s evolving urban fabric," Gaurav Pandey, the MD and CEO of Godrej Properties, said.

On another note, in August, the company set a sales target of ₹32,500 crore for the year, with expected collections of around ₹21,000 crore. MD & CEO Pandey told CNBC-TV18 that the business is well-positioned to exceed this guidance by capitalising on favourable market condition.

Godrej Properties shares ended the previous session 1.6% lower at ₹2,064.2 apiece. The stock has declined 25.7% this year, so far.

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