Godrej Properties Buys Kharadi Land with Rs.3,100 Crore Revenue Scope
The Godrej Industries Group's real estate division, Godrej Properties, has purchased a 16-acre plot of land in Upper Kharadi, Pune, with an estimated potential revenue of Rs 3,100 crore.
High-end group living and high-street retail will be the main features of the development on this property.
The project will feature 2.5 million square feet of developable potential.
Based on current business expectations, the company has acquired two pieces of land in Pune's Kharadi-Wagholi region this month, bringing the total potential revenue from the two ventures to almost Rs 7,300 crore.
The business purchased a 14-acre plot of property in Kharadi earlier this month with a potential revenue of Rs 4,200 crore.
Furthermore, the Upper Kharadi land parcel is located close to the IT hubs of Viman Nagar, Magarpatta, and Hadapsar, as well as the Kharadi-Wagholi micromarket.
In addition, average property prices in Kharadi as of the first quarter of 2025 (Q1 CY25) were Rs 13,319 per square foot, down from Rs 13,510 per square foot in Q1 CY24, according to real estate data analytics platform Square Yards Data Intelligence.
With an estimated potential income of Rs 1,500 crore, the business stated that it would build a high-end residential complex on a 14-acre plot of land in Hoskote, East Bengaluru.
In the fourth quarter of the fiscal year 2025 (Q4FY25), the company earned its highest-ever quarterly bookings of Rs 10,163 crore, up 7% year over year (YoY). For the first time, the company's quarterly bookings surpassed Rs 10,000 crore.
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Additionally, by the fiscal year 2028 (FY28), the Motor Solutions segment of the Godrej Enterprises Group hopes to make Rs 1,000 crore, of which 20 percent will come from exports. The company is targeting Rs 750 crore in FY26 due to the increasing demand for electric vehicles (EVs), HVAC applications, pump applications, and actuator segments in both domestic and international markets.
The company has enhanced its ability to produce EV motor components, including finishing a new assembly line, to support growth in India as well as overseas markets including the US and Europe.