Shares of Godrej Properties Ltd slumped 7% on Friday, 11 September, after the real estate developer disclosed an estimated financial impact of around Rs 70 crore from the settlement of its dispute with Orris Infrastructure over the Godrej Air project in Gurugram. 

The company said the settlement actions are currently being implemented and it will make the required disclosure after the process is completed.

The dispute relates to the jointly developed Godrej Air residential project in Gurugram. Godrej Properties and Orris Infrastructure reached an amicable settlement through an agreement dated 25 August 2026. The settlement also covers the interests of homebuyers in the project, according to the company.

The development followed a legal dispute between the two partners. Godrej Properties had earlier raised concerns over changes to statutory records of the limited liability partnership associated with the project. The matter also resulted in criminal proceedings against Orris Infrastructure’s managing director. Following the settlement, the Bombay High Court ordered the quashing of the related FIR and other proceedings.

Godrej Properties said both parties are now taking the necessary steps to implement the settlement agreement. Since these actions are still underway, the company said any further disclosure before their completion could be premature. The matter is also expected to come up before the Bombay High Court at its next hearing on September 24, 2026.

The Rs 70 crore estimated impact is relatively small compared with the scale of Godrej Properties’ overall business, but investors are likely to monitor the settlement closely because of its connection with an ongoing residential project. 

The company remains focused on growth as India’s housing market continues to support major developers. Jefferies recently highlighted Godrej Properties’ strong pre-sales performance, with sales bookings growing at a 41% compound annual rate between FY23 and FY26.

At 1:05 pm, the shares of Godrej Properties were trading 7.40% lower at Rs 1,733.40 on NSE. 

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