Godrej Properties enters Golf Course Road Extension in Gurugram, Haryana

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, has announced that it has acquired approximately 9 acres of land in Gurugram, Haryana through an outright purchase. This project will offer approximately 1.6 million square feet of premium residential development with exceptional lifestyle amenities.

The site is strategically located with easy access from Golf Course Road Extension, also known as Southern Peripheral Road.

Gaurav Pandey, MD & CEO Designate, Godrej Properties, said, "Gurugram is an important market for us and we are happy to add this city center land parcel to our portfolio. Golf Course Road Extension is an established and premium micro-market with good civic and social infrastructure. We aim to build premium residential spaces with best in class amenities. This project will allow us to significantly increase our market share in Gurugram over the next several years and fits within our strategy of strengthening our presence in key micro markets".

Golf Course Road Extension is one of the most premium micro-markets of NCR offering quality residential, corporate and retail developments.

The project will have an estimated revenue potential of approximately INR 2,500 Crore, on the basis of the current business assumptions.

Shares of Godrej Properties Limited was last trading in BSE at Rs. 1223.15 as compared to the previous close of Rs. 1217.00. The total number of shares traded during the day was 18004 in over 1705 trades.

The stock hit an intraday high of Rs. 1242.85 and intraday low of 1220.00. The net turnover during the day was Rs. 22178066.00.

Source : Equity Bulls

Keywords

GodrejProperties INE484J01027 LandAcquisition 9Acres Gurugram Haryana PremiumResidentialDevelopment