Godrej Properties shares to remain in focus after co acquires 53 acre land in Kolkata

Shares of Godrej Properties are likely to remain in focus today as the company announced the acquisition of a 53-acre land parcel in Kolkata with a potential development of 1.3 million square feet of saleable area.

“Godrej Properties Ltd. (GPL), (BSE scrip id: GODREJPROP), one of India’s leading real estate developers, today announced that it has acquired a 53 acre land parcel in Joka, Kolkata. The proposed project is estimated to have a development potential of ~ 1.3 million square feet of saleable area comprising primarily residential plotted development with an estimated revenue potential of Rs 500 crore,” said the company in a filing to the stock exchanges.

The land is strategically located in the fast-developing micro-market of Joka, which is close to the main city and in proximity to Diamond Harbour, a well-known seaside weekend getaway, the filing further informed.


With IIM-Calcutta as an educational landmark, enhanced healthcare facilities, and commercial centers, Joka offers residents convenience and quality of life.

“This land acquisition fits with our strategy of deepening our presence across India's leading cities. We will aim to build an outstanding plotted development project in Joka that creates long term value for its residents,” said Gaurav Pandey, MD & CEO of Godrej Properties.

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Godrej Properties reported a 402% year-on-year (YoY) jump in its net profit to Rs 335 crore in the second quarter ended September 2024, as compared to Rs 67 crore a year ago.

The shares of Godrej Properties have increased by 17.9% in the last one year and by 7.34% in the current year so far. However, the same has declined by 3.5% in the last 3 months and by 4.5% in the last 1 month.

Godrej Properties shares closed 2.28% higher at Rs 2,690.15 on the BSE on Tuesday.

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