Godrej Properties Acquired a 53 Acre Plot of Land in Kolkata

Godrej Properties Ltd., a leading real estate developer in India, has acquired a 53-acre land parcel in Joka, Kolkata, with plans to develop a residential plotted project. The company projects a revenue potential of approximately Rs.500 crore from this venture, which is to deliver around 1.3 million square feet of saleable area.

Why Joka?

Joka is fast becoming one of Kolkata’s most promising residential hubs, and it’s easy to see why. With its proximity to the main city and Diamond Harbour, a favourite weekend spot, this micro-market has caught the attention of developers and home buyers alike. Add to that a good infrastructure boost, top-notch institutions like IIM Calcutta upgraded healthcare, and growing commercial zones and Joka offers a lifestyle that’s both convenient and aspirational.

The Numbers 

While the company hasn’t disclosed the land cost, industry sources peg it at around Rs.125 crore. This acquisition comes at a time when Godrej Properties is already riding high on good numbers. In the first half of FY25, the company recorded sales bookings worth Rs.13,800 crore, an 89% jump from last year and its best-ever performance for the period.

In the first six months of this fiscal year, the company added eight new land parcels, bringing in a potential 11 million square feet of saleable area, with an estimated booking value of Rs.12,650 crore. It’s also halfway to its FY25 target of Rs.27,500 crore in sales bookings.

Godrej Properties Ltd shares are at Rs.2,667.70 right now, down by 0.93% today, but they’ve seen a good rise, up 33.25% this year so far and 41.08% over the past year.

Conclusion: With acquisitions like this one, Godrej Properties is trying its position as a leader in India’s real estate market. For Joka, this project isn’t just about new homes, it’s about putting the area firmly on Kolkata’s residential map. And for Godrej, it’s working on a big project for this fiscal year.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.