In a major real estate development, Godrej Properties Ltd (GPL) has announced the acquisition of leasehold rights for an around 11-acre land parcel in Hinjewadi, Pune. The project, set to be a mix of group housing and high-street retail, boasts an estimated revenue potential of approximately ₹1800 crore.
The strategically located land parcel offers a developable potential of about 2.2 million square feet and is near the upcoming megapolis Metro station. This prime location provides excellent connectivity to Hinjewadi’s major IT hubs and access to essential amenities like schools, hospitals, malls, restaurants, and premium hotels.
Expressing his enthusiasm, Gaurav Pandey, MD and CEO of Godrej Properties, stated, “Hinjewadi is an important micro market for us in Pune, and we are delighted to add this land parcel to our portfolio.
This further enhances our presence in Pune and aligns with our strategy of strengthening our foothold across key micro-markets in India. We aim to create an outstanding gated community that generates long-term value for its residents.”
The move comes as Godrej Properties, one of the leading real estate developers in the country, reported its highest-ever quarterly profit in the March quarter. The company’s earnings jumped 14% annually to ₹471.26 crore, driven by improved income and robust housing sales.
With this new project, Godrej Properties continues to cement its position in the Pune market, capitalizing on the city’s thriving IT and commercial sectors. The development is poised to offer homebuyers and investors a unique opportunity to participate in Pune’s burgeoning real estate landscape.
