Real Estate Developer Expands Pune Presence with 2nd Land Deal Worth Rs 3,100 Crore Revenue Potential
Despite a 1-year return of -18.95 per cent, the company has delivered a strong 3-year return of 104.81 per cent
Godrej Properties Limited has strengthened its presence in Pune’s dynamic real estate landscape with the acquisition of a 16-acre land parcel in Upper Kharadi. This marks the company’s second strategic land acquisition in the Kharadi-Wagholi corridor within a month. The two acquisitions together are expected to unlock a cumulative revenue potential of approximately Rs 7,300 crore.
The newly acquired parcel, with a developable area of around 2.5 million square feet, will be developed into premium group housing and high-street retail. The estimated revenue potential from this project alone stands at Rs 3,100 crore. The site benefits from excellent connectivity to key commercial hubs and proximity to prominent IT destinations such as Viman Nagar, Magarpatta, and Hadapsar. The area also boasts well-developed social infrastructure, making it a preferred destination for both residential and retail development.
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Gaurav Pandey, MD and CEO of Godrej Properties, emphasized the strategic value of this acquisition, stating, “Upper Kharadi has rapidly emerged as one of Pune’s most promising real estate corridors, driven by its evolving infrastructure and strong connectivity.” The expansion aligns with Godrej Properties' broader vision of focusing on high-potential urban clusters across India.
As of June 16, 2025, shares of Godrej Properties Limited traded at Rs 2,429.95. The stock has seen a 52-week high of Rs 3,381.75 and a low of Rs 1,926.15. Despite a 1-year return of -18.95 per cent, the company has delivered a strong 3-year return of 104.81 per cent. With a Price-to-Earnings (PE) ratio of 48.05 and a market capitalization of Rs 73,186 crore, Godrej Properties holds a substantial position in the Indian Large-Cap real estate space.
Founded in 1990, Godrej Properties is the real estate arm of the Godrej Group and operates on an asset-light model. The company has delivered approximately 41 million square feet of real estate since FY18 and manages a total developable area of around 215 million square feet across India. Its portfolio includes 99 projects, with a significant presence in Mumbai, Pune, and Bengaluru. Notably, it boasts one of the lowest bank funding costs in the sector at 5.95 per cent per annum, supported by the financial strength and goodwill of the Godrej brand. Godrej & Boyce Mfg Co Ltd is the major public shareholder with a 3.54 per cent stake.
Disclaimer: The article is for informational purposes only and not investment advice.