"This acquisition further solidifies GPL’s footprint in North Bengaluru,” the company stated.
The land is located in a strategic and highly potential area near the Satellite Town Ring Road (STRR). The development on this land will primarily comprise plotted units with a development potential of approximately 1.1 million square feet.
Doddaballapur is rapidly gaining prominence as a real estate hotspot in North Bengaluru, driven by good connectivity to Kempegowda International Airport, the development of STRR, significant industrial investments, and scenic attractions like Nandi Hills in the vicinity.
Gaurav Pandey, MD & CEO, Godrej Properties, said: "We are pleased to announce the acquisition of this prime land parcel in Doddaballapur, a high-potential micro market in North Bengaluru.
This investment reinforces our focus on expanding our presence in key growth corridors through well planned residential communities."
Godrej Properties is a leading national real estate developer. It is a real estate arm of the Godrej Group. The company currently operates in various cities and focuses on residential, commercial, and township development.
The company's consolidated net profit declined 18.9% to Rs 381.99 crore, despite a 48.8% jump in net sales to Rs 2,121.73 crore in Q4 FY25 over Q4 FY24.
The scrip rose 0.50% to currently trade at Rs 2349.40 on the BSE.