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Godrej Properties (GPL) announced that it will acquire a ~7.44 acre land parcel at New Alipore, a premium residential locality in Kolkata from West Bengal Housing Infrastructure Development Corporation, having been declared as the highest bidder in its e-auction.
GPL will develop this land parcel as a luxury group housing project. The location offers excellent connectivity to all major social and commercial hubs of Kolkata city.
Gaurav Pandey, MD & CEO, GPL, said, "The demand for luxury realty has been strong over the past few years. This will be our second luxury development in the city, and we aim to build an outstanding residential community."
GPL is the real estate arm of the Godrej Group. In FY 2021, GPL emerged as the largest developer in India by the value and volume of residential sales achieved.
The company reported 58% rise in consolidated net profit to Rs 412.14 crore on 23.72% increase revenue from operations to Rs 1,646.27 crore in Q4 FY23 over Q4 FY22.
The counter rose 2.03% to settle at Rs 1504 on Wednesday, 14 June 2023.
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