Godrej Properties Launches 43-Acre Township in Panipat, Aims for Rs 1,250 Crore Revenue
Godrej Properties, a prominent Mumbai-based real estate company, announced on Monday that it has acquired 43 acres of land in Sector 40, Panipat. According to a regulatory filing, this land acquisition is intended for a plotted development project with a revenue potential of over Rs 1,250 crore.
With this new acquisition, Godrej Properties will develop its fourth residential plotted township in North India. The project will encompass approximately 1.02 million square feet of residential development, offering a variety of plot sizes and modern lifestyle amenities. The site is strategically located, providing easy access via the National Highway and proximity to essential social infrastructure.
Gaurav Pandey, Managing Director and CEO of Godrej Properties, expressed his satisfaction with the company's expansion into Panipat. “We are pleased to announce our entry into Panipat. This project aligns well with our strategy of expanding into new markets for plotted development. Haryana has been a key market for us, and we are excited to develop a high-quality plotted township in Panipat that will create long-term value for its residents,” he stated.
Earlier this year, in May, Godrej Properties released its fiscal fourth quarter earnings report. The company reported a net profit of Rs 380 crore, down from Rs 480 crore in the same quarter last year. Despite this, the company has shown robust growth, launching 34 projects across seven cities with an aggregate area of 29.2 million square feet. The total income for the fourth quarter of FY25 increased to Rs 2,681.06 crore.
In FY25, Godrej Properties achieved significant sales, selling 15,302 residential units worth Rs 29,444 crore. This represents a substantial increase from the Rs 22,500 crore in sales recorded in FY24. These achievements highlight the company's strong market presence and its commitment to delivering quality residential developments.
As of the latest trading session, shares of Godrej Properties were down 0.43% at 10:20 am, with a trading price of Rs 2,353.30. Despite the minor dip, the company's overall performance and strategic expansion into new markets like Panipat indicate a promising future for both the company and its stakeholders.
