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Godrej Properties has purchased a 75-acre land parcel in Nagpur to develop a residential project focused mainly on plotted housing. With this acquisition, the company crossed its INR 20,000 crore annual new business development target for the current financial year. The upcoming project is expected to offer around 1.7 million sq ft of saleable area and generate an estimated INR 755 crore in revenue. This marks the developer's third land purchase in Nagpur in the last four years. The deal follows another acquisition in South Bengaluru announced a day earlier for a township project.
Godrej Properties has added a 75-acre land parcel in Nagpur to its development pipeline, with plans to create a housing project that will primarily offer plotted units. The project is expected to generate nearly INR 755 crore in revenue and will feature an estimated 1.7 million sq ft of saleable area. This marks the company's third land acquisition in Nagpur within the past four years, reflecting its continued focus on the city's growing residential demand. Advertisement
The developer stated in its latest regulatory filing that the new purchase has enabled it to exceed its INR 20,000 crore annual target for new business development for the ongoing financial year. In the sector, new business development typically includes acquiring land either directly or through partnerships with landowners for future projects. Listed developers generally share estimated revenue potential and saleable area when announcing such transactions.
Gaurav Pandey, Managing Director and CEO of Godrej Properties, noted that Nagpur is strengthening its position as a key centre for infrastructure and industrial growth, supported by better connectivity and increasing housing requirements.
A day before this announcement, the company confirmed the acquisition of a 30-acre land parcel in South Bengaluru for a township project with an estimated revenue potential of about INR 3,500 crore. Over the years, Godrej Properties has expanded its presence across major cities, with Nagpur receiving a steady share of its recent investments.
The company recorded property sales worth INR 29,444 crore in 2024-25, driven largely by its housing portfolio. Its pre-sales grew 13 percent in the first half of the current fiscal, rising to INR 15,587 crore compared to INR 13,835 crore during the same period last year. The management remains confident of achieving its sales booking target of INR 32,500 crore for this financial year.
Source PTI
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