Godrej Properties announced a new project, a 16-acre residential-retail development in Upper Kharadi, Pune. The development on this land will primarily comprise premium group housing and high-street retail.
On Tuesday, Godrej Properties announced that it will develop a ~ 16-acre land parcel in Upper Kharadi, Pune. As of 10:30 am IST, Godrej Properties' share price advanced to ₹2,450.40, up by 0.66%.
On a year-to-date basis, the stock has declined by 12.52%, while in the last 3 months it is up by 20.07%.
Godrej Properties Ltd, a major player in India’s real estate sector, announced it has acquired a land parcel measuring approximately 16 acres in this emerging micro-market.
The proposed development will primarily include premium group housing and a high-street retail component. The project is expected to have a total developable area of around 2.5 million square feet, with an estimated revenue potential of approximately ₹3,100 crore.
The site is strategically located within the Kharadi-Wagholi belt, known for its connectivity to prominent commercial zones. It is in close proximity to major IT hubs such as Viman Nagar, Magarpatta, and Hadapsar. The area is also well-supported by social infrastructure, including schools, hospitals, shopping malls, restaurants, and luxury hotels, making it a desirable destination for residential buyers.
Gaurav Pandey, MD and CEO, Godrej Properties, said, “Upper Kharadi has rapidly emerged as one of Pune’s most promising real estate corridors, driven by its evolving infrastructure and strong connectivity. This marks our second land acquisition in the micro-market, reflecting both the area's growing demand and our commitment to expanding in high-potential urban clusters across India. We will aim to create a thoughtfully designed, future-ready development that delivers long-term value and enhances the quality of life for residents.”
The company said that - This is the company’s second land acquisition this month in the Kharadi–Wagholi belt, taking the estimated cumulative revenue potential from the two developments to approximately ₹7,300 crore.
Earlier on Monday, June 16, Godrej Properties Ltd had announced the development of a premium residential project on a ~14-acre land parcel in Hoskote, East Bengaluru. The project, offering approximately 1.5 million sq. ft. of saleable area with an estimated revenue potential of ₹1,500 crore, marks the company’s continued expansion in the region following the success of Godrej Woodscapes. Strategically located about 5 km from NH-75, the site offers connectivity to Budigere Cross, KR Puram, and Whitefield, and is near key employment hubs like ITPL and the upcoming Aerospace Park. Ongoing infrastructure upgrades and the emergence of industrial and logistics zones further enhance Hoskote’s appeal as a growing residential destination.
In the quarter ending March 2025, Godrej Properties reported a 35.35% year-on-year increase in revenue from operations, rising to ₹2,646 crore from ₹1,952 crore in the same quarter last year. However, profit after tax (PAT) declined by 19%, falling from ₹471 crore in March 2024 to ₹382 crore in March 2025.
On an annual basis, the company posted strong performance, with revenue from operations growing by 57% year-over-year, reaching ₹6,848 crore in FY25 compared to ₹4,362 crore in FY24. Profit after tax also saw strong growth of 93%, increasing to ₹1,400 crore from ₹725 crore last year, reflecting improved profitability at the full-year level.
Godrej Properties Limited (GPL) is the real estate development arm of the Godrej Group, which was started in 1897 and is today one of India’s most successful conglomerates. Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry.
Disclaimer: The article is for informational purposes only and not investment advice.
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