NEW DELHI: Godrej Properties Ltd has emerged as the highest bidder for a 7.82-acre land parcel in Hyderabad, acquiring it for nearly Rs 550 crore.
In a regulatory filing on Thursday, the company stated that it participated in an e-auction conducted by the Telangana Housing Board (TGHB). Godrej Properties’ total combined bid for the 7.825-acre plot in Kukatpally (KPHB), Hyderabad, amounted to Rs 547.75 crore.
The housing board will issue the allotment letter once the due process is completed. Godrej Properties plans to develop a housing project on the site, with an estimated revenue potential of around Rs 3,800 crore.
Gaurav Pandey, MD & CEO of Godrej Properties, said, “As Hyderabad continues to strengthen its position as a dynamic real estate market, Kukatpally represents a strategic location that aligns with the city’s growth trajectory.”
Godrej Properties is recognized as one of India’s leading real estate developers.
