Stock in focus: Godrej Properties emerges as highest bidder for Hyderabad land parcel

Shares of Godrej Properties are in news today after the real estate developer said it has emerged as the highest bidder for 7.825 acre land parcel in Kukatpally, Hyderabad. The project is estimated to have a revenue potential of Rs 3,800 crore.  Godrej Properties shares ended 1.65% higher at Rs 2041.10 on Wednesday against the previous close of Rs 2007.90 on BSE. Market cap of the firm stood at Rs 61,479 crore.

The company announced that it has participated in an e-auction conducted by the Telangana Housing Board (TGHB) for Residential Group Housing, where it emerged as the highest bidder for 7.825 acre land parcel in Kukatpally (KPHB), Hyderabad, with a total combined bid value of Rs 547.75 crore.

"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 Rs 3,800 crore comprising premium residential apartments of varied configurations," said Godrej Properties.

"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," added Godrej Properties.

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.”