Godrej Properties emerges as the highest bidder for ~ 7.825 acre land parcel in Kukatpally, Hyderabad

Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India's leading real estate developers, today announced that it has participated in an e-auction conducted by the Telangana Housing Board (TGHB) for Residential Group Housing, where GPL has emerged as the highest bidder for ~ 7.825 acre land parcel in Kukatpally (KPHB), Hyderabad, with a total combined bid value of INR 547.75 crore, according to the bid status intimation email issued by e-auction facilitator MSTC Limited. TGHB shall issue the allotment letter after following the due process.

The land parcel is strategically located in a prime location in Kukatpally, in close proximity to HITEC City, and will offer an estimated revenue potential of ~INR 3,800 crore* comprising premium residential apartments of varied configurations.

This acquisition builds on the success of GPL's recent launches in Hyderabad, including Godrej Madison Avenue at Kokapet and Godrej Regal Pavilion at Rajendranagar. With this new project, GPL has further strengthened its presence in one of India's most dynamic real estate markets.

Kukatpally is recognized as one of Hyderabad's most established and resilient residential corridors. The neighbourhood has set benchmarks for premium housing and is supported by a robust social ecosystem comprising reputed educational institutions, healthcare facilities, retail, and commercial hubs. Its connectivity to HITEC City, one of Hyderabad's largest employment centers, further enhances its residential appeal.

Gaurav Pandey, MD & CEO, Godrej Properties, said, "As Hyderabad continues to strengthen its position as a dynamic real estate market, Kukatpally represents a strategic location that aligns with the city's growth trajectory. Building on the strong response to our recent launch, Godrej Madison Avenue at Kokapet, our presence here allows us to bring national-scale expertise while designing future-ready developments that create long-term value for our residents."

Shares of Godrej Properties Limited was last trading in BSE at Rs. 2041.10 as compared to the previous close of Rs. 2007.90. The total number of shares traded during the day was 13736 in over 1095 trades.

The stock hit an intraday high of Rs. 2047.10 and intraday low of 2002.50. The net turnover during the day was Rs. 27843002.00.

* On the basis of current business assumptions.

Source : Equity Bulls

Keywords

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