Godrej Properties to develop ~11-acre land parcel in Hinjewadi, Pune

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced that it will develop ~11-acre land parcel in Hinjewadi, Pune.

The development on this land will comprise primarily Group Housing & High Street Retail. The project will have a developable potential of ~ 2.2 million square feet with an estimated revenue potential of ~ INR 1,800 crore *

The land parcel is strategically located near the upcoming Megapolis Metro Station and offers

good connectivity to Major IT hubs in Hinjewadi, Pune along with access to schools, hospitals, malls, restaurants, and premium hotels.

Gaurav Pandey, MD & CEO, Godrej Properties, said, "Hinjewadi is an important micro market for us in Pune and we are happy to add this land parcel to our portfolio. This further enhances our presence in Pune and fits within our strategy of strengthening our presence across key micro-markets in India. We will aim to build an outstanding gated community that creates long-term value for its residents."

*On the basis of the current business assumptions.

Shares of Godrej Properties Limited was last trading in BSE at Rs. 3207.80 as compared to the previous close of Rs. 3103.85. The total number of shares traded during the day was 19951 in over 3754 trades.

The stock hit an intraday high of Rs. 3220.00 and intraday low of 3084.10. The net turnover during the day was Rs. 63205711.00.

Source : Equity Bulls

Keywords

GodrejProperties INE484J01027 Realty 11Acres LandParcel Hinjewadi Pune GroupHousing HighStreetRetail