Godrej Properties Buys 4 Acres of land near Presidential Tower
Godrej Properties, the real estate development arm of Godrej Group, has acquired a land parcel spread over four acres in Bengaluru on an outright basis. The land acquisition is in line with the company’s strategy to further strengthen its presence in Bengaluru.
The project will have an estimated revenue potential of ₹ 1,000 crore with the scope to increase to ₹ 1,250 crore based on an additional one-acre land acquisition, the real estate company said in an exchange filing.
The project site is strategically located with a huge frontage on National Highway – 75, Yeshwanthpur. The area offers well-developed commercial and social infrastructure and is in proximity to Goraguntepalya and Peenya metro stations, providing access to the Central Business District, (CBD) and other parts of Bengaluru.
The Godrej Group comprises of a varied business portfolio that includes real estate development, fast moving consumer goods, advanced engineering, home appliances, furniture, security, and agri-care. While a large number of our businesses are privately held, the combined market cap of our publicly listed entities is in excess of USD 15 billion. Ranked as the 2nd most trusted Indian brand, an annual revenue of USD 5 billion, and an estimated 1.1 billion customers across the world that use one or another Godrej product every day, the Godrej Group is amongst India’s most diversified and trusted conglomerates.
The Godrej Group was established in 1897 out of a desire to demonstrate economic self-sufficiency and excellence within India in the pre-independence decades. From safes that withstood fires better than international competitors’, to one of the world’s first soaps from vegetable oil, and the ballot boxes for independent India’s first general election, the group has a proud tradition of making meaningful products and building businesses that serve the country’s interests. We have always focused on people and the planet along with the profits. Approximately 23% of the promoter stake in the Godrej Group, is owned by philanthropic trusts that work on environmental, educational, and health care issues in India. We are also bringing together our passion and purpose to make a difference through our Good & Green strategy of shared values to create a more employable Indian workforce, build a greener India and innovate for ‘Good’ and ‘Green’ products.
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