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Godrej Properties Ltd has acquired an 89-acre land parcel in the Raigad district of Maharashtra, with a development potential of 1.9 million square feet.
In an exchange filing, the company said it intends to set up a residential plotted development on the land, which is located in the micro market of Khalapur.
“Residential plotted development has gained significant traction in recent years and Khalapur is a promising micro market in which to expand our presence in this space,” Managing Director and Chief Executive Officer, Gaurav Pandey said in the release.
At 9.37 am, shares of Godrej Proeprties were down about 1 per cent at ₹1,155.45 on the National Stock Exchange
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