Godrej Properties Secures 14-Acre Land in Pune, Aims for ₹4,200 Crore Revenue
Mumbai-based real estate developer, Godrej Properties Ltd., has announced the acquisition of a 14-acre land parcel in the Kharadi-Wagholi region of Pune, Maharashtra. The company stated that the projects to be developed on this land parcel have an estimated revenue potential of ₹4,200 crore.
Development on the land will primarily consist of premium group housing, spanning a total area of 3.7 million square feet. The location is strategically situated, offering easy access to schools, hospitals, malls, restaurants, and premium hotels. Additionally, it is in close proximity to the Chhatrapati Sambhaji Maharaj International Airport, making it highly attractive for both residential and commercial purposes.
The Kharadi-Wagholi area is known for its proximity to major IT and business hubs, which adds to its appeal. Gaurav Pandey, the Managing Director and CEO of Godrej Properties, expressed his enthusiasm about the acquisition, stating, “Kharadi-Wagholi is one of the most sought-after destinations in Pune, and we are happy to mark our entry into this micro-market.”
Last month, Pandey shared the company's ambitious growth targets with CNBC-TV18. He mentioned that Godrej Properties is aiming for a 20% growth in bookings in the financial year 2026, supported by a strong collection outlook and steady execution momentum. “We would like to guide the market at ₹32,500 crore of sales... despite a high base, we are looking forward to delivering ₹21,000 crore of collections over an actual ₹17,000 crore of last year. The idea is to be very aggressive on our growth,” Pandey said.
Shares of Godrej Properties ended 0.17% lower at ₹2,235.7 apiece on Friday, May 30. The stock has seen a decline of 22.5% this year, so far. Despite this, the company remains optimistic about its future projects and growth prospects in the real estate sector.
Godrej Properties is a leading real estate developer in India, known for its commitment to delivering quality residential and commercial projects. The company's strategic acquisition in Pune's Kharadi-Wagholi region is a testament to its continued focus on expanding its footprint in key markets across the country.
