Godrej Properties’ wholly-owned subsidiary -- Godrej Projects Development has acquired 20% issued and paid-up share capital of Vagishwari Land Developers (VLDPL). Pursuant to the said acquisition, VLDPL has become an associate company of Godrej Projects Development and consequently of Godrej Properties.
Acquisition is done in accordance with the acquisition agreement entered into with the shareholders of VLDPL. Godrej Projects Development along with other investors intend to develop a real estate project on the land owned by VLDPL.
Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.
