Godrej Industries arm buys office space worth Rs 365 crore in Mumbai’s Vikhroli

MUMBAI: Godrej Seeds and Genetics Ltd, the agri-business arm of the Godrej Industries Group, has acquired office space spread across three floors in a commercial tower in Mumbai’s eastern suburb Vikhroli for a total consideration of Rs 366 crore.

The transaction involves the purchase of offices on the 6th, 7th and 8th floors of the office tower Godrej One from Godrej Industries, indicating an intra-group consolidation of real estate assets.

The total carpet area of the deal stands at 70,361 sq ft, translating to an effective rate of around Rs 52,000 per sq ft, based on the property registration documents accessed through Propstack, a realty data analytics platform.


The acquisition was executed through three separate sale transactions on March 6. The largest of these involved a consideration of Rs 130.7 crore for a carpet area of 25,147 sq ft. Another transaction was valued at Rs 123.1 crore for 23,672.51 sq ft, while the third deal was closed at Rs 112 crore for 21,541.56 sq ft.

Godrej One, located in the eastern suburb of Vikhroli, serves as the headquarters for the diversified Godrej Group and is among the prominent Grade A office developments in the micro-market.

The latest deal underscores a broader trend of large corporates consolidating office ownership within group entities, particularly in key business hubs such as Mumbai, driven by long-term cost optimisation and operational efficiencies.

ET's email query to Godrej Industries remained unanswered until the time of going press.

Mumbai’s office market has continued to see steady traction in strata sales, especially in established business districts and high-quality developments, even as leasing remains the dominant mode of absorption.

Vikhroli, along with neighbouring micro-markets such as Powai and Kanjurmarg, has emerged as a key office destination in the eastern corridor, benefiting from improved connectivity and the presence of large integrated developments.