Shares of Godrej Properties Ltd surged 3.75% to hit a day’s high of Rs 2,141.10 on 15th October after the company announced the acquisition of a 26-acre land parcel near Sarjapur Road in South Bengaluru, with an estimated revenue potential of Rs 1,100 crore.

The company said it will develop a residential project on the acquired land.

The location offers excellent connectivity to major employment hubs, including Whitefield, Outer Ring Road, and Electronic City. It is also conveniently located near schools, hospitals, retail centres, and leisure spaces.

Godrej Properties already has projects like Godrej Park Retreat and Godrej Lakeside Orchards in South Bengaluru.

MD and CEO Gaurav Pandey said that as Bengaluru strengthens its position as one of India’s most dynamic real estate markets, the Sarjapur Road corridor continues to emerge as a key growth hub.

In August, the company set a sales target of Rs 32,500 crore for the year. They expect collections of around Rs 21,000 crore.

At 11:28 AM, the shares of Godrej Properties were trading 3.76% higher at Rs 2,134.80 on NSE.

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