Godrej Properties Expands Mumbai Presence with Versova Land Deal for ₹1,350 Crore

Godrej Properties Ltd has acquired its first land parcel in Versova, located in the Andheri West region of Mumbai. The proposed project will span approximately 4.4 lakh square feet of saleable area and is expected to generate an estimated revenue of ₹1,350 crore, according to a recent company filing.

As of 9:29 am on April 7, Godrej Properties share price was trading at ₹1960.60, a 5.19% down, with the stock declining 27.62% over the past six months and 20.15% over the past year.

Location 

Versova is a residential suburb in the western part of Mumbai. The area is connected through the Versova Metro station, Western Express Highway, and Link Road. Additionally, the under-construction Bandra-Versova Sea Link (BVSL) is to improve connectivity further, linking Versova to Bandra and South Mumbai. 

The locality also includes educational institutions, hospitals, entertainment spaces, and access to nearby business districts.

Focus of the Development

The project will primarily consist of premium residential units of varying configurations. The revenue potential mentioned is based on current business assumptions, as per the company’s official press release.

Part of a Larger Growth Strategy

As per the filing, this land acquisition is part of Godrej Properties’ expansion in the Mumbai Metropolitan Region (MMR), which remains one of the company’s focus markets, along with Delhi-NCR, Bengaluru, and Pune. In FY2025, the Mumbai region recorded sales of ₹5,155 crore, marking a 104% year-on-year growth.

Gaurav Pandey, MD & CEO, Godrej Properties, said, “This is our first land acquisition in Versova and reflects our confidence in the area’s potential. It further strengthens our presence in Mumbai and aligns with our growth strategy, which focuses on delivering high-quality developments in high-demand micro-markets.”

Performance Overview

In the calendar year 2024, Godrej Properties reported a booking value of ₹28,800 crore, reflecting a 69% year-on-year increase. The company sold 26.38 million square feet during the same period. The December 2024 quarter was also the sixth consecutive quarter with over ₹5,000 crore in booking value.

Conclusion

The Versova acquisition is an addition to Godrej Properties’ Mumbai portfolio, with a focus on premium residential development. The project fits into the company’s strategy of expanding in urban micro-markets with high demand and improving infrastructure, as per the filing.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.