Godrej Properties Limited(GPL) has purchased 62 acres of land in Haryana's Kurukshetra area. The project will be utilized to develop plotted residential accommodations spanning nearly 1.4 million square feet, the company stated in a BSE filing.
In its regulatory filing, the real estate company said it has "entered into an agreement for development of 14.27 acres of land in Gurugram, Haryana." The development will comprise predominantly premium residential apartments.
Earlier this month, Godrej Properties Executive Chairman Pirojsha Godrej had said, "We have added projects worth Rs 16,500 crore so far this financial year and have already crossed our full-year guidance of Rs 15,000 crore. Given strong further visibility, we will end 2022-23 fiscal much ahead of the target."
It added that it was expecting around Rs 3,000 crore sales revenue from development of a new housing project in Haryana's Gurugram area.
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Pirojsha Godrej sounded extremely bullish on sales bookings and new land acquisitions in the coming months. In February this year, Pirojsha Godrej had outlined plans to invest around Rs 7,500 crore over the next 12-18 months on acquisition and development of new real estate projects.
Also Read: Godrej Properties acquires 18-acre land parcel in Mumbai's Kandivali
Godrej Properties, which is a subsidiary of the Godrej Group, mainly focuses on real estate projects in four cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru and Pune.
Also Read: Godrej Properties adds 8 new projects worth Rs 16,500 cr so far in FY23: Pirojsha Godrej
At 10:33 am, shares of Godrej Properties were trading 1.03 percent higher at Rs 1,185 apiece on the BSE.
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