Shares of Godrej Properties rose up to 2.2% to ₹2,082 in morning trade on Thursday, August 21, after the company announced it had emerged as the highest bidder in a Telangana Housing Board (TGHB) e-auction. The real estate major secured a 7.8-acre residential land parcel in Hyderabad’s Kukatpally with a winning bid of ₹547.78 crore.
According to the filing, the project has a revenue potential of nearly ₹3,800 crore, with the allotment letter to be issued once TGHB completes the formalities.
Situated near HITEC City, the proposed development will include premium residential apartments across various configurations.
Commenting on the development, Gaurav Pandey, MD & CEO of Godrej Properties, said:
“Following the strong response to our recent launch, Godrej Madison Avenue at Kokapet, our presence in Kukatpally enables us to deliver large-scale, future-ready developments while creating long-term value for our residents.”
This announcement follows the company’s disclosure of acquiring a 7% stake in Godrej Skyline Developers (GSDL) for ₹9.25 lakh, strengthening its project pipeline.
For the June quarter (Q1 FY26), Godrej Properties reported a 15.4% YoY rise in net profit to ₹600 crore, though revenue declined 41% to ₹435 crore. The company also posted an EBITDA loss of ₹243 crore. Net debt climbed 42% to ₹4,637 crore as the developer ramps up expansion to meet rising housing demand.
The developer has also set ambitious growth targets for FY26, aiming for ₹32,500 crore in sales and ₹21,000 crore in collections. In Q1, it added five new land parcels worth ₹11,400 crore in potential development value.
At 9:30 am, shares of Godrej Properties were trading at ₹2,080 on NSE, up 1.8% from the previous close. However, the stock is still down 27% year-to-date (YTD).
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Investors are advised to consult certified financial experts before making any investment decisions.
