Godrej Properties acquires 14-Acre land in East Bengaluru
Godrej Properties (GPL) has announced the acquisition of a strategically located 14-acre land parcel in Hoskote, East Bengaluru, with an estimated revenue potential of Rs 1,500 crore from the proposed development.
With a projected development potential of roughly 1.5 million square feet of saleable area, the company intends to build a high-end residential project on the property.
This acquisition represents GPL's ongoing push into East Bengaluru, an area that is becoming more and more recognized as a prime residential and investment corridor, building on the success of its previous project, Godrej Woodscapes. Rapid infrastructure development, enhanced social amenities, and close proximity to important job centers like Whitefield, ITPL, and the soon-to-be Aerospace Park are all helping the micro-market.
Located approximately 5 km from National Highway 75 (NH-75), the site offers strong connectivity to key locations such as Budigere Cross, KR Puram, and the Whitefield micro-market. The region is witnessing substantial infrastructure upgrades, including the expansion of arterial road networks and the development of surrounding industrial and logistics hubs, further enhancing its appeal as a residential and commercial destination.
These developments are expected to bolster Hoskotes position as an emerging urban hub, making it a compelling location for next-generation residential communities.
Gaurav Pandey, MD and CEO, Godrej Properties, said, Hoskote is an important micro market for us in East Bengaluru. It continues to demonstrate strong demand for high-quality housing and aligns with our vision of developing best-in-class residential communities. We aim to build a high-quality development that creates long-term value for its residents.
Godrej Properties is a leading national real estate developer. It is a real estate arm of Godrej Group. The company currently operates in various cities and focuses on residential, commercial, and township development.
The company's consolidated net profit declined 18.9% to Rs 381.99 crore, despite a 48.8% jump in net sales to Rs 2,121.73 crore in Q4 FY25 over Q4 FY24.
Shares of Godrej Properties shed 0.24% to Rs 2,401.20 on the BSE.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
18 minutes ago
- News18
Did ICICI Bank Try To Acquire HDFC? What Deepak Parekh Reveals
Last Updated: 'I remember you talking to me said ICICI started HDFC. 'Why don't you come back home?' That was your offer,' Parekh said in interaction with Ex-ICICI CEO Chanda Kochhar. ICICI Bank once tried to merge housing finance firm HDFC with itself before its reverse merger with its own banking arm, HDFC Bank former chairman Deepak Parekh has revealed. In a YouTube video, Parekh, in an interaction with ICICI Bank former MD & CEO Chanda Kochhar, said, 'I remember you talking to me once…you said that ICICI started HDFC. 'Why don't you come back home?' That was your offer." However, Parekh said he declined the offer, saying 'it won't be fair or proper with our name and the bank and all". He also said the HDFC Bank-HDFC reverse merger, which was completed in July 2023, was primarily driven by regulatory pressure. 'The RBI supported us and they pushed us into it to some extent and they helped us…there were no concessions, no relief, no time, nothing but they helped us to go through the process and get the approval," Parekh said. On the reverse merger, Parekh called it 'a sad day and a happy day". He added, 'It's good for the institution. It's good for the country to have large banks. Look at how large Chinese banks are. We have to be bigger, larger in India." Describing the merger as good for the institution, he said, it is good for the country to have large banks. Indian banks must grow through acquisitions to become stronger in future, he added. HDFC Ltd, the parent entity of HDFC Bank, merged with its banking subsidiary to create the country's biggest private sector lender. The merger became effective from July 1, 2023. With the reverse merger, the 44-year-old institution HDFC Ltd faded into memory lane. Interestingly, the creation of HDFC Ltd was financially supported by erstwhile ICICI Ltd, the parent entity of ICICI Bank. The Reserve Bank of India had classified large NBFCs like HDFC, which then held assets exceeding Rs 5 lakh crore, as systemically important — well above the Rs 50,000-crore threshold. (With Inputs from PTI) First Published:
Hans India
27 minutes ago
- Hans India
Varsity launches innovative ‘industry inside the campus' initiative
Belagavi: In a pioneering step towards integrating industry with academics, Visvesvaraya Technological University (VTU), Belagavi, has launched a novel initiative titled 'Industry Inside the Campus'. This move comes on the heels of the university making headlines for declaring exam results within an hour—yet another testament to its push towards student-centric reforms. To implement this new concept, VTU has established the Visvesvaraya Research and Innovation Foundation (VRIF) on its main campus, opening up space for companies in drone technology, software development, electric vehicles, IoT, PCB manufacturing, AR/VR, and more. These companies are now operational on campus, with full-fledged training for final-year engineering students set to begin from August. Speaking to this reporter , VTU Vice-Chancellor Prof. S. Vidyashankar said, 'Students now gain hands-on experience and practical exposure within the campus. We've established rapid innovation centres such as the Schneider Acceleration Centre, Proteus, Cadence, and an Electrical Vehicle Lab to bridge the skill gap. Through VRIF, we aim to create not just employees but future employers.' One of the key players in the initiative is Saras Aerospace, a startup established in 2022, specializing in carbon fiber drones and airframe production. Co-founder Brijesh Kumar Koparde noted, 'Thanks to VTU, we operate from within the campus. We train students not only in drone technology but also in equipment used for drone testing. We've delivered over 200 drones across the country, including to the Indian Army, Navy, and Air Force. Our product range includes drones valued between RS1.5 lakh and RS 30 lakh.'Currently, nearly 90 students are undergoing hands-on training with Saras Aerospace. Rajat Hanshate, a final-year engineering student, shared, 'I've developed an Unmanned Ground Vehicle during my internship here. From 3D modeling to integrating sensors and cameras, everything was facilitated. I gained immense exposure to the practical aspects of drone-making for both defence and agriculture.' Another student, Swastik Hegde, emphasized the value of his training, 'I've been interning here for two months. I've learned PCB design and IoT sensor integration. I even worked on a Retractor Landing Gear project. I'm truly grateful to VTU for creating such platforms.' The 'Industry Inside the Campus' initiative is expected to benefit at least 2,500 students in the coming academic year. The university hopes this integrated industry-academia ecosystem will not only make graduates job-ready but also empower them to become entrepreneurs. 'This is not just about employment, it's about entrepreneurship,' reiterated Prof. Vidyashankar.
Hans India
an hour ago
- Hans India
Singareni to construct 500 MW pumped storage plant
Kothagudem: As part of its business expansion activities, Singareni Company will undertake construction of a pumped storage power plant based on the closed Medipalli open cast mine water reservoir in Ramagundam-1 area. During a review meetingon Saturday, CMD N Balaram said, 'The company, which has completed the preliminary studies related to this, has been entrusted with the responsibility of preparing a complete project report and has presented a letter of award to a public sector undertaking named Vyapcos Limited.' He said that the Deputy Chief Minister Bhatti Vikramarka Mallu has already visited the Medipalli open cast mine and the construction site. Explaining the details of the project, he said, 'The plant works like a hydroelectric project in a way. A reservoir dam of about 2,350 m long and 23 m deep will be constructed for water storage on the funds. This reservoir will store 9.64 million cubic meters of water and 8 million cubic meters of water will be used for pumping.' The project cost is estimated to be around Rs 3,000 crore.
