Shares of Godrej Properties gained attention after the company announced it had secured the top bid for a 7.825-acre land parcel in Kukatpally, Hyderabad, during an e-auction conducted by the Telangana Housing Board (TGHB) for residential group housing. The total bid stood at ₹547.75 crore, and the project is expected to generate revenue of approximately ₹3,800 crore. Following the announcement, Godrej Properties’ stock rose 1.65% to close at ₹2,041.10 on Wednesday, with its market capitalization reaching ₹61,479 crore.
According to the company, the land is located in a prime area of Kukatpally, close to HITEC City, and the project will consist of premium residential apartments in varied configurations. This acquisition adds to Godrej Properties’ growing portfolio in Hyderabad, following successful launches like Godrej Madison Avenue in Kokapet and Godrej Regal Pavilion in Rajendranagar.
MD & CEO Gaurav Pandey stated that Kukatpally’s strategic importance aligns with Hyderabad’s expanding real estate landscape, and this project further reinforces the firm’s commitment to creating high-value, future-ready developments.