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Godrej Properties acquires 7 acre land parcel in Bengaluru

The 7-acre land parcel is located in Bengaluru's Indiranagar extension.

September 28, 2022 11:51 IST | India Infoline News Service

On September 28, 2022, Godrej Properties revealed that it has purchased a land piece that is strategically situated in Indiranagar, next to the Old Airport Road, and inside the Outer Ring Road's boundaries.

The project, which spans roughly 7 acres, will be built as a high-end residential project with apartments of various layouts, with a developable potential of about 0.6 million square feet of saleable space.

The land is close to important business buildings in the Bengaluru CBD, commercial areas along Old Airport Road, Whitefield's Outer Ring Road, and the Sarjapur belt, as well as residential hotspots like Indiranagar, Marathahalli, and Domlur.

Godrej Properties became India's top developer in FY 2021 based on the amount and value of completed home sales.

In comparison to Q1 June 2021, the company's net profit increased significantly to Rs45.55 crore on a consolidated basis. From Rs86.16 crore in Q1 FY22 to Rs244.67 crore in Q1 FY23, net sales increased dramatically.

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