The Mumbai-based real estate developer sees Hyderabad as a significant market for future growth.
Published Date – 14 February 2024, 01:35 PM
Hyderabad: Godrej Properties Limited (GPL) has made its debut in Hyderabad by expanding its footprint with the acquisition of around 12.5 acres of prime land in Rajendra Nagar. The Mumbai-based real estate developer sees Hyderabad as a significant market for future growth.
As per the company announcement made on Wednesday, the estimated saleable area is approximately 4 million square feet, primarily comprising premium residential apartments. This venture is anticipated to generate approximately Rs 3,500 crore in revenue.
The project aims to meet the demands of discerning homebuyers in the city seeking modern living experiences with quality amenities and designs.
Gaurav Pandey, MD, and CEO of Godrej Properties, expressed satisfaction with the company’s entry into Hyderabad, highlighting the city’s status as one of India’s largest and fastest-growing residential real estate markets.
“This acquisition is in line with our strategy of strengthening our portfolio across the key markets in India and we will seek to deliver a landmark project that creates long-term value for its residents,” he added.
