On Thursday, August 21, Godrej Properties Ltd. announced that it has emerged as the highest bidder for a 7.8-acre land parcel in Kukatpally, Hyderabad, with a total bid of ₹547.78 crore. The Telangana Housing Board (TGHB) conducted the e-auction for a Residential Group Housing project. The proposed development is expected to generate revenue of approximately ₹3,800 crore. The land is strategically located near HITEC City and will feature premium residential apartments in multiple configurations. Godrej Properties stated that the allotment letter will be issued by TGHB after completing necessary formalities.
Gaurav Pandey, MD and CEO of Godrej Properties, highlighted the positive response to their recent project, Godrej Madison Avenue at Kokapet, emphasizing the company’s commitment to delivering value-driven, future-ready developments. Additionally, Godrej Properties acquired a 7% stake in Godrej Skyline Developers for ₹9.25 lakh on August 21.
In Q1, the company posted a 15.4% rise in net profit to ₹600 crore, despite a 41% drop in revenue to ₹435 crore and an EBITDA loss of ₹243 crore. The firm has set a sales target of ₹32,500 crore for FY26.
