Godrej Properties acquires 28 acre land parcel in Bengaluru for mixed-use project

Godrej Properties said that it has entered into a sale deed to acquire land parcel of approximately 28 acres in Bengaluru to develop a mixed-use project comprising apartments and supporting retail development.

This project is located near Whitefield and in close proximity to major office spaces in Whitefield and Outer Ring Road.

Godrej Properties is the real estate arm of the Godrej Group. It is subsidiary of Godrej Industries, which holds 58.48% of the company's equity shares as on 31 December 2022. The company currently operates in various cities and focuses on residential, commercial, and township development.

The realtor's consolidated net profit jumped 51% to Rs 59 crore in Q3 FY23 compared with Rs 39 crore in Q3 FY22. Revenue from operations declined 29.61% to Rs 196.23 crore as against Rs 278.76 crore in Q3 FY22.

The scrip rose 0.40% to currently trade at Rs 1167.40 on the BSE.

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