Godrej Properties Rides the Boom with New Bengaluru Housing Project

Godrej Properties Ltd has announced a collaboration with a landowner to develop a luxurious 14-acre housing project in Bengaluru, aimed at generating Rs 1,500 crore in revenue. Strategically situated in Hoskote, East Bengaluru, the property is expected to offer 1.5 million square feet of saleable area.

In a recent filing, the real estate firm reiterated its strategy to expand its footprint in key markets. This project in Hoskote marks another significant step in the company's growth, given the high demand for quality housing. Gaurav Pandey, MD and CEO, emphasized Hoskote as a crucial market for expanding their residential communities.

Godrej Properties acquired the land through a joint development agreement and continues its aggressive expansion across major cities, including Pune and Mumbai. The firm reported a record 31% increase in sales bookings for the past fiscal year, affirming its position as a leading player in the Indian real estate market.

(With inputs from agencies.)