The Mumbai-based real estate developer announces a strategic platform partnership for the development of over 2.3 million square metres (approximately 25 million square feet) in Pune.
Godrej Properties Ltd. (GPL) (BSE scrip id: GODREJPRP), one of India’s leading real estate developers, today announced that it has entered into an equity investment platform in partnership with a Pune-based developer to develop six projects across Pune. This portfolio comprises various asset classes including group housing projects, plotted development, mixed use development and township projects.
The total land that will be developed comprises of over 300 acres located across the prime markets of west and east Pune. These six projects will offer a total saleable area of over 23 lakh square metres (approximately 25 million square feet), scheduled to be developed in multiple phases over the next 10 years.
This is a first of its kind equity platform investment and is in alignment with Godrej Properties' strategy of deepening its presence across India's leading real estate markets.
Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties said, “We are excited to add this large portfolio of projects in Pune to our development pipeline. This single partnership will dramatically enhance our presence in the Pune market, cementing our presence across key growth areas within the city. We believe this sets us up well to establish a leadership position in Pune's residential market and fits perfectly with our strategy of growing our business across the country's leading real estate markets."
Godrej Properties brings the Godrej Group philosophy of innovation,
sustainability, and excellence to the real estate industry. Each Godrej
Properties development combines a 121–year legacy of excellence and trust with a commitment to cutting-edge design and technology.
In recent years, Godrej Properties has received over 200 awards and recognitions, including ‘The Economic Times Best Real Estate Brand 2018’, ‘Builder of the Year’ at the CNBC-Awaaz Real Estate Awards 2018, 'Real Estate Company of the Year' at the 8th Annual Construction Week India Awards 2018, India’s Top Builders 2018 at the Construction World Architect and Builder (CWAB) AWARDS 2018 and the Golden Peacock National Quality Award – 2017 at the Institute Of Directors 27th World Congress on Business Excellence and Innovation.
Mr. Ajay Pawar
Associate Vice President (Corporate Communications) Godrej Properties Limited
Tel no: +91 022 61698500
Mobile: +91 9820286056