Godrej Properties acquires 10 acres in Bengaluru

Godrej Properties has acquired around 10 acres of land in Yelahanka, Bengaluru. This move is expected to help the company generate revenues of about Rs 2,500 crore. The land has a potential for about 1.5 million square feet of residential development. Earlier this month, Godrej Properties canceled an agreement for a development project in Kochi. In February, the company reported strong sales of over Rs 1,000 crore for the Godrej Evergreen Square project in Pune, shortly after acquiring the land there. For the third quarter, Godrej Properties reported a significant drop in net profit, which fell over 66% to Rs 34.85 crore. Revenue increased to Rs 968.9 crore, up from Rs 330.4 crore a year prior. EBITDA stood at Rs 27.6 crore, compared to an EBITDA loss of Rs 41.5 crore from last year. The company’s stock has fluctuated, hitting a 52-week high of Rs 3,400.00 in September 2024, but is currently trading 37.05% below that high. The stock is also 12.42% above its 52-week low of Rs 1,903.85. Godrej Properties' market capitalization is currently at Rs 64,461.09 crore, but the stock has declined by 33% over the past six months.