By laksh5382 
Godrej Properties Limited (GPL) The company today announced that it has emerged as the highest bidder for three contiguous land plots totaling 6.54 acres in Sector 5-A, Kharghar, Mumbai Metropolitan Region. The land was auctioned through the City and Industrial Development Corporation of Maharashtra (CIDCO).
- Also read: Godrej Properties acquired six land parcels in July-September to build projects worth ₹9,650 crore
Shares of Godrej Properties Ltd (GPL) were trading at ₹3,181.85, up ₹35.20 or 1.12 per cent at 11.20am today on the NSE.
The developer plans to build a premium residential project with an estimated revenue potential of ₹3,500 crore. The development will offer approximately 2 million square feet of space comprising various apartment configurations.
The project site is strategically located near Kharghar and CBD Belapur railway stations, with metro connectivity and access to the Sion-Panvel Expressway. The development will overlook the Kharghar hills and is located close to healthcare facilities and educational institutions.
Gaurav Pandey, MD and CEO, Godrej Properties, said the Kharghar project is in line with the company’s strategy to strengthen its presence in key Indian real estate markets.
GPL has maintained a strong market position, emerging as India’s largest developer by residential sales value in FY2024. The company has also been recognized for its sustainability initiatives, ranking first globally among listed residential developers in the Global Real Estate Sustainability Benchmark for three consecutive years. From 2020 to 2022.