Godrej Properties Limited — Updates, 20-11-2024: Press Release

Godrej Properties has acquired approximately 53 acres of land in Joka, Kolkata, with a development potential of around 1.3 million square feet, primarily for residential plotted development. This project is estimated to generate a revenue potential of approximately INR 500 crore. The location is strategically situated in a rapidly developing micro-market, offering excellent connectivity through the Kolkata Metro's Line 3 and extensive road networks. Joka is evolving into a desirable residential hub, benefiting from ongoing infrastructure improvements, proximity to IIM-Calcutta, and associated amenities. This acquisition aligns with Godrej Properties' strategy of enhancing its presence across major Indian cities, focusing on creating valuable developments for residents. Investors should view this move as a positive step towards long-term growth potential.