According to the latest exchange filing, Godrej Properties Limited (GPL) has emerged as the highest bidder in an e-auction conducted by the New Okhla Industrial Development Authority (NOIDA) for residential group housing plots. The company successfully acquired a 4.95-acre land parcel in Sector 151, Noida, with a bid value of ₹331.75 crore. As per the company's announcement, the outcome was reflected on the e-tendering portal of HDFC Bank, following which NOIDA is expected to issue the formal allotment letter after completing the required procedures.
As reported by the exchange filing, Godrej Properties intends to develop a residential group housing project on the acquired land parcel, which is projected to generate estimated revenues exceeding ₹2,000 crore based on current business assumptions. The development will feature premium residential apartments offered in multiple configurations, catering to demand in the National Capital Region (NCR). The company stated that the project will further enhance their development portfolio in the National Capital Region and aligns seamlessly with their strategy of deepening presence in key micro-markets across India's leading cities.
The plot enjoys a strategic location in Sector 151, Noida, offering connectivity to the Noida–Greater Noida Expressway and planned access to the upcoming Noida International Airport at Jewar. The surrounding area is witnessing infrastructure development, including proposed educational and healthcare facilities. Sector 151 is positioned as a developing residential micro-market, enhancing the project's appeal and development potential for the company's premium residential offerings in the region.
Gaurav Pandey, MD & CEO of Godrej Properties, expressed confidence in the market strength, stating "We are pleased to announce the addition of this new project in Noida to our portfolio. Building on the consistent demand witnessed for our existing developments in the region, we remain confident in the strength of this market. This project will further enhance our development portfolio in the National Capital Region and align seamlessly with our strategy of deepening our presence in key micro-markets across India's leading cities."
This acquisition complements Godrej Properties' recent expansion activities, including the company's announcement earlier this month of securing a 23.2-acre residential land parcel in Greater Noida, which carries an estimated revenue potential of over ₹7,000 crore. The company's continued strategic focus on expanding its presence across key micro-markets in India's leading cities demonstrates their commitment to strengthening their development portfolio in major Indian cities.
