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Updated February 14th, 2024 at 10:59 IST

Godrej Properties sets foot in Hyderabad with premium project, eyes Rs 3,500 crore revenue

The prime location in Rajendra Nagar offers excellent connectivity to major social and commercial hubs, including the Rajiv Gandhi International Airport.

Reported by: Business Desk
Godrej Properties investment in Bengaluru
Godrej Properties | Image:Freepik, Godrej Properties
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Godrej Properties Hyderabad entry: Real estate major Godrej Properties Limited (GPL) on Wednesday announced its entry into the Hyderabad market with the acquisition of a 12.5-acre land parcel in Rajendra Nagar. This move marks the company's expansion into one of India's fastest-growing residential markets, with an estimated revenue potential of Rs 3,500 crore for the project.

Landmark project in prime location

The land boasts a prime location in Rajendra Nagar, offering excellent connectivity to major social and commercial hubs, including the Rajiv Gandhi International Airport. The development is planned to encompass 4 million square feet of saleable area, primarily comprising premium residential apartments. Catering to discerning homebuyers, the project promises a high-quality living experience with modern amenities and design elements.

Gaurav Pandey, MD & CEO of Godrej Properties, expressed the company's excitement to enter Hyderabad, a key market for future growth. He said, "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.”

The shares of Godrej Properties fell 1.44 per cent to an intraday low of Rs 2,246.25 apiece on the NSE during early trade on Wednesday, February 14, 2024.

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Published February 14th, 2024 at 10:59 IST

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