Shares of Godrej Properties Ltd surged 1% to touch a day’s high of Rs 1,588.60 on 30th January, after the firm stated that it has acquired an 8.5-acre land parcel in Mahalunge, Pune, with an estimated revenue potential of Rs 2,000 crore.

The company said the land was acquired through an outright purchase in a fast-growing micro-market. The project is located in the Mahalunge-Maan-Nande belt of Pune. It will mainly focus on group housing and is expected to have a developable area of around 2.1 million square feet, according to the exchange filing. 

The site is part of the Mahalunge-Hinjewadi micro-market and is close to the upcoming Pune Inner Ring Road. This is along the Hinjewadi-Balewadi corridor.

Godrej Properties highlighted that the location offers strong social infrastructure, including reputed educational institutions. Additionally, there is easy access to Baner-Balewadi and Hinjewadi—two key IT and BFSI hubs in the city.

Commenting on the acquisition, Gaurav Pandey, MD and CEO of Godrej Properties, said the deal is an important step in strengthening the company’s presence in Pune. It also helps expand across high-potential micro-markets in major Indian cities.

Earlier this month, the Mumbai-based real estate developer reported a 19% rise in booking value to Rs 34,171 crore in calendar year 2025. Meanwhile, cash collections increased 28% year-over-year to Rs 18,979 crore.

At 10:08 AM, shares of Godrej Properties were trading 0.86% higher at Rs 1,580 on NSE.

Ready to invest like a pro? Tradz by EquityPandit equips you with 100+ Free tools and knowledge you need to succeed. Download the Tradz app and gain access to daily stock lists and insightful market analysis and much more!