Godrej Properties Acquires 109 Acres of Land Parcel in Nagpur

Godrej Properties Limited (GPL) functions as the real estate development division of the illustrious Godrej Group, a conglomerate that commenced its journey in 1897 and has evolved into one of India’s most accomplished and thriving conglomerates. Godrej Properties effectively translates the core principles of innovation, sustainability, and excellence, which are intrinsic to the Godrej Group’s philosophy, into the realm of real estate.

Godrej Properties Ltd has officially announced its acquisition of approximately 109 acres of land in Nagpur. The development planned for this land primarily focuses on plotted residential units, projecting an estimated saleable area of 2.2 million square feet.

Strategically positioned in close proximity to Samrudhhi Mahamarg, the expressway linking Mumbai and Nagpur, as well as MIHAN SEZ, the land parcel offers excellent connectivity to the Mumbai-Kolkata highway and Dr. Babasaheb Ambedkar International Airport in Nagpur. This location boasts a well-established social and municipal infrastructure, encompassing hospitals, schools, retail establishments, and entertainment venues.

Also read: Godrej Properties Achieves Booking Value of Rs 2,000 Cr

Godrej Properties Ltd recently announced its Q1FY24 results in which the company’s sales surged by 282% and stood at Rs 936 crore compared to Q1FY23, while the company reported an operating loss of Rs 149 crore compared to a loss of Rs 66 crore in Q1FY23. However, the company reported a net profit of Rs 134 crore, which surged by 211% compared to Q1FY23. Additionally, it is important to note that the company had other income of Rs 379 crore. Furthermore, the company has been able to grow its sales by 7% (CAGR) over the past 5 years, and net profit has grown by 90% (CAGR) for the same period.

The company has delivered returns of 36% over the past year and impressive returns of 86% over the past 3 years. Additionally, the company has a ROCE of 5.69% and an ROE of 5.39%.

On Friday, shares of the Godrej Properties surged over 2% and reached an intraday high of Rs 1578.50.

Investors should keep a close eye on this trending stock.

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 change. Please consult an expert before making related decisions.