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Godrej Properties acquires Raj Kapoor’s bungalow in Mumbai

In May 2019, Godrej Properties had acquired R.K. Studios from the Kapoor family, to develop a premium mixed-use project, Godrej RKS. The project is expected to be delivered in 2023.

Godrej Properties (GPL) has acquired Raj Kapoor’s bungalow at Deonar Farm Road, Chembur, Mumbai to develop a premium residential project. The land was purchased from the Kapoor family, the company said in a BSE filing.

In May 2019, it had acquired R.K. Studios from the Kapoor family, to develop a premium mixed-use project, Godrej RKS. The project is expected to be delivered in 2023.

Gaurav Pandey, MD & CEO of the company said, “The demand for premium developments has been strong over the past few years. This project will allow us to further strengthen our presence in Chembur.”

The company had reported a growth of 44.54 per cent in its net consolidated profit during the quarter ended December 31, 2022. Its profit after tax (PAT) stood at Rs 56.40 crore in Q3 FY23 as against Rs 39.02 crore it registered in the corresponding quarter of the previous year.

It’s net consolidated income stood at Rs 404.58 crore in Q3 FY23, a dip of 13.35 per cent from Rs 466.91 crore it recorded in the similar quarter last year.

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