Shares of Godrej Properties Ltd, based in Mumbai, were trading in the green and 1% higher on 20 November after the company announced that it has acquired an additional 3.8 acres of land parcel, which has a revenue potential of Rs 2,400 crore and 2 million sq. ft. of development capability.

The company wants to establish a premium residential complex on a 30-acre site, with an estimated development potential of 3 million sq. ft. and revenue of Rs 3,500 crore.

The increase in overall potential is due to greater FSI approvals across the combined holding, which allows the 30-acre tract to be master planned as an integrated group-housing township.  According to Godrej, the scale enables them to construct a well-amenitized, open, sustainable community with a variety of residential options.

The acquisition also strengthens the company’s position in the rapidly expanding Sarjapur Road micro-market, which is noted for its proximity to major employment hubs such as Outer Ring Road, Whitefield, Bellandur, and Electronic City.  

The area’s strong social infrastructure, including schools, hospitals, shopping, and workspaces, has made it one of Bengaluru’s most desirable residential corridors, according to the business.

Gaurav Pandey, MD and CEO of Godrej Properties, said, “This expansion gives us the opportunity to create a landmark community that aligns with our vision for sustainable, integrated living. The strong performance of our projects in this corridor underscores the depth of demand and customer trust. We aim to deliver a development that meets the aspirations of today’s homebuyers and sets new benchmarks for design, wellness and urban planning in Bengaluru.”

However, at 12:37 pm, the shares of Godrej Properties were trading 0.22% lower at Rs 2,125.70 on NSE.

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