The company plans to develop a premium residential project on the site with an estimated revenue potential of approximately Rs 1,650 crore, based on current business assumptions.
The parcel is situated along the EM Bypass corridor, which is a well-connected and rapidly developing micro-market linking Salt Lake, New Town, Park Circus, Gariahat, and Garia.
The location benefits from proximity to the under-construction Garia–Airport metro line and connectivity to Netaji Subhas Chandra Bose International Airport.
In a separate filing, Godrej Properties announced that acquisition of 11.36 acres of land in Sector 63A, Gurugram, through an outright purchase.
The parcel is located along Golf Course Extension Road, one of NCR’s most premium residential corridors.
The proposed residential development is expected to generate over Rs 4,500 crore in revenue potential, comprising a mix of premium low-rise and high-rise units.
The company’s management indicated that with this transaction, GPL has added over Rs 40,000 crore of future sales potential in FY26, representing approximately 2x its full-year business development guidance, and marking its strongest year for incremental booking value addition.
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 rose 20.00% to Rs 195.16 crore despite a 48.56% decline in revenue to Rs 498.36 crore in Q3 FY26 over Q3 FY25.
The scrip tumbled 4.51% to currently trade at Rs 1655.40 on the BSE.