Godrej Properties shares in focus after 16-acre land acquisition in Pune
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Shares of Godrej Properties are likely to be in focus on Tuesday, June 17, after the company announced the acquisition of a 16-acre land parcel in Upper Kharadi, Pune, with an estimated revenue potential of Rs 3,100 crore.This marks Godrej Properties' (GPL) second land acquisition in the Kharadi–Wagholi micro-market this month, further strengthening its footprint in one of Pune's most promising growth corridors.The Pune development will primarily comprise premium group housing and high-street retail, with a developable potential of approximately 2.5 million square feet. The strategically located land parcel offers strong connectivity to major commercial hubs and IT centers such as Viman Nagar, Magarpatta, and Hadapsar, in addition to proximity to established social infrastructure including schools, hospitals, malls, and hotels.With this acquisition, the cumulative estimated revenue potential from Godrej's two recent land deals in the region stands at Rs 7,300 crore.'Upper Kharadi has rapidly emerged as one of Pune's most promising real estate corridors, driven by its evolving infrastructure and strong connectivity. This marks our second land acquisition in the micro-market, reflecting both the area's growing demand and our commitment to expanding in high-potential urban clusters across India. We aim to create a thoughtfully designed, future-ready development that delivers long-term value and enhances the quality of life for residents,' said Gaurav Pandey, MD and CEO, Godrej Properties.Separately, on June 16, Godrej Properties announced the acquisition of a 14-acre land parcel in Hoskote, East Bengaluru, where it plans to develop a premium residential project with 1.5 million square feet of saleable area and an estimated revenue potential of Rs 1,500 crore.The location—near Whitefield, ITPL, and the upcoming Aerospace Park — benefits from robust infrastructure upgrades and improved connectivity via NH-75.Shares of Godrej Properties closed 1% higher at Rs 2,429.95 on BSE on Monday.
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