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Godrej Properties has acquired 53 acres of land in Joka, Kolkata, with a revenue potential of ₹500 crore. The project will include 1.3 million square feet of residential plotted development, boosting the Godrej Properties share price.
Godrej Properties Ltd. has announced the acquisition of a 53-acre land parcel in Joka, Kolkata, for a project with an estimated revenue potential of ₹500 crore. The development will span 1.3 million square feet of saleable area, primarily focusing on residential plotted development.
Land Size: 53 acres acquired in Joka, Kolkata.
Revenue Potential: ₹500 crore from the project.
Development Area: 1.3 million square feet of saleable area.
Focus: Primarily residential plotted development.
Godrej Properties Share Price: Stock rose 2.41%, closing at ₹2,692.75 on Tuesday.
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The Joka project is strategically located in a fast-developing micro-market, providing proximity to Kolkata’s main city and Diamond Harbour. Godrej Properties plans to capitalise on the area’s growing demand by offering residential plots, aligning with its strategy to deepen its presence in key cities across India.
Parameter | Details |
Location | Joka, Kolkata |
Land Size | 53 acres |
Development Area | 1.3 million sq. ft. |
Project Type | Residential plotted development |
Revenue Potential | ₹500 crore |
The announcement boosted investor confidence, with the Godrej Properties share price closing 2.41% higher at ₹2,692.75 on Tuesday. The stock has gained an impressive 33% year-to-date in 2024, reflecting the company’s strong performance and strategic acquisitions.
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Godrej Properties recently surpassed its full-year business development guidance of ₹20,000 crore. The company achieved 51% of its annual target, recording ₹13,835 crore in bookings. The Joka project further strengthens its portfolio, reinforcing its leadership in the real estate market.
Godrej Properties continues to expand strategically, enhancing its market position while generating significant value for stakeholders through its ambitious developments.
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