Godrej has acquired approximately 50 acres of land in Sonipat, Haryana, which will offer approx. 1 million sq.ft. of plotted residential development, plot sizes and lifestyle amenities.
The site has good connectivity to the Delhi border and national highways. In addition, the site is in close proximity to the upcoming educational and industrial hub of Sonipat and offers a well-developed social infrastructure.
Mohit Malhotra, the managing director (MD) and chief executive officer (CEO) of Godrej Properties, said: “We are pleased to announce our entry into Sonipat. The project fits well with our strategy of deepening our presence across the country’s leading real estate markets. Sonipat as a micro-market has seen a lot of infrastructure developments over the last couple of years and is going to play a vital role in the NCR growth story.”
Godrej Properties’ consolidated net profit soared 171.4% to Rs 38.95 crore on a 63.5% surge in net sales to Rs 278.76 crore in Q3 FY22 over Q3 FY21.
Shares of Godrej Properties lost 0.50% to close at Rs 1,485.90 on BSE on Monday, 14 March 2022. Godrej Properties is engaged in construction and real estate development.