Godrej Properties has acquired an around 18.6 acre land parcel in Kandivali, Mumbai. The project will have a developable potential of around 3.72 million square feet with an estimated revenue potential of around Rs 7,000 crore on an outright basis.
The development will comprise primarily of premium residential apartments with supporting retail spaces. This will be one of company's largest residential developments and significantly strengthens its presence in the western suburbs of Mumbai. This is the 8th project addition for the company in FY23 and takes the cumulative expected booking value from projects added in FY23 to around Rs 16,500 crore as against its full year guidance of adding projects with a booking value potential of Rs 15,000 crore.
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.
