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Business Standard

Godrej Properties buys Upper Kharadi land with Rs 3,100 cr revenue scope

The 16-acre parcel in Pune's Upper Kharadi will support premium housing and retail, marking Godrej Properties' second acquisition in the region this month Mumbai Godrej Properties, the realty arm of Godrej Industries Group, has acquired a 16-acre land parcel in Pune's Upper Kharadi, with an estimated revenue potential of Rs 3,100 crore. The development on this land will primarily comprise premium group housing and high-street retail. The project will have a developable potential of 2.5 million square feet. This is the company's second land acquisition this month in Pune's Kharadi–Wagholi belt, taking the estimated cumulative revenue potential from the two developments to approximately Rs 7,300 crore based on current business assumptions. Additionally, the land parcel in Upper Kharadi is situated within the micro-market of Kharadi–Wagholi and is near the IT hubs of Viman Nagar, Magarpatta and Hadapsar. Gaurav Pandey, managing director and chief executive officer, Godrej Properties, said: '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 will aim to create a thoughtfully designed, future-ready development that delivers long-term value and enhances the quality of life for residents.' On Monday (16 June), the company announced that it will develop a premium residential project on a 14-acre land parcel in Hoskote, East Bengaluru, with an estimated revenue potential of Rs 1,500 crore. Earlier, the company recorded its highest-ever quarterly bookings of Rs 10,163 crore in the fourth quarter of the financial year 2025 (Q4FY25), up 7 per cent year on year (YoY). The company's quarterly bookings crossed Rs 10,000 crore for the first time.