Godrej Properties to acquire around 7.44 acres of land in ET Real Estate for a residential project in Kolkata

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New Delhi: Godrej Properties (GPL) will acquire about 7.44 acres of land New Alipore, Kolkata From West Bengal Housing Infrastructure Development Corporation has been declared the highest bidder in the e-auction, in a BSE filing.

GPL will develop this land parcel as a luxury group housing project.

The project will have a developable capacity of around 9.8 lakh sq ft with an estimated revenue potential of around Rs 1,200 crore.

Gaurav PandeyThe company’s MD & CEO said, “The demand for luxury realty has been strong over the last few years. This will be our second luxury development in the city.”

The company reported a growth of 75.48 per cent in its net consolidated profit during the quarter ended March 31, 2023. Its profit after tax stood at Rs 453.87 crore in Q4 FY23 as against Rs 258.65 crore recorded in the corresponding quarter of the previous FY. ,

Its net consolidated total income stood at Rs 1,838.82 crore in Q4 FY23, a growth of 20.77 per cent over Rs 1,522.57 crore reported in the same quarter last year.

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