In the recently concluded e-auction at Navi Mumbai, Godrej Properties won the bid to develop 6.5 acres as a group housing project. The auction event was organized by the City and Industrial Development Corporation of Maharashtra (CIDCO).
Godrej Properties aims to develop a group housing project in Sector 5-A, Kharghar, Navi Mumbai. The gigantic plot of 6.54 acres will have residential apartments in distinct segments with a revenue potential of Rs. 3,500 crore.
Gaurav Pandey, MD and CEO, Godrej Properties said, “Our entry into the Kharghar micro-market aligns well with our strategy of strengthening our portfolio across the key real estate markets in India. We will aim to build an outstanding residential community that creates long-term value for its residents.”
Sector 5-A, Kharghar, Navi Mumbai is a strategic location with swift connectivity via robust transport hubs. It’s in proximity to CBD Belapur railway station and metro along with Sion-Panvel expressway.
The sturdy infrastructure including educational establishments, banks, and healthcare facilities elevates the quality of living. Also, the panoramic views from Kharghar, Navi Mumbai offer a peaceful living atmosphere.
According to Godrej Properties, in H1, 2024, the company owned eight land parcels with an approximate saleable area of 11 million square feet. It estimates a booking value of nearly Rs. 12.650 crore.
Gaurav Pandey, MD and CEO, Godrej Properties said, “Our robust sales performance, has translated into record collections growth of 62% to over Rs.7,000 crore and operational cash flow growth of over 200% to over Rs.2.800 crore in H1, FY2025.”
Earlier in April, the company reported the sale of 1050 luxury homes in Godrej Zenith, Sector 89, Gurugram, at Rs. 3,000 crore. The figure is achieved in just three days. Within a week, it is the second time when Godrej Properties attains magic figures.
In the stock market, Godrej Properties experience bull trend after making the said value. At 10.20 am, the share price stood at Rs. 2,608.35 on the National Stock Exchange. The price is greater than it’s’ yesterday’s closing price value.
