Godrej Properties Limited has informed the Exchange regarding a press release dated March 04, 2026, titled "Press Release".
GODREJPROP · price
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Godrej Properties has won a bid in an e-auction conducted by the West Bengal Housing Infrastructure Development Corporation (WBHIDCO) for a prime ~5-acre land parcel off EM Bypass in Kolkata. The site will be developed into a premium residential project with an estimated revenue potential of approximately INR 1,650 crore. EM Bypass is one of Kolkata's most well-connected and rapidly developing corridors, linking major neighbourhoods like Salt Lake, New Town, Park Circus, and Gariahat. The acquisition strengthens GPL's presence in the Kolkata market. The company highlighted that it was India's largest developer by residential sales value in FY 2025 and has received multiple sustainability rankings globally.
This is a positive development for shareholders — the INR 1,650 crore revenue potential adds to the company's project pipeline and supports future growth. Land acquisitions in prime micro-markets like EM Bypass typically boost investor sentiment, though actual revenue realisation depends on execution, approvals, and market conditions.