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Godrej Properties declared the highest bidder for land parcels in Sector 146, NOIDA

Godrej Properties declared the highest bidder for land parcels in Sector 146, NOIDA

Godrej Properties declared the highest bidder for land parcels in Sector 146, NOIDA
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By Pihu Yadav  Nov 12, 2022 2:42:51 PM IST (Published)

Godrej Properties, which is part of the business conglomerate Godrej Group, is one of the leading real estate developers in the country.

Godrej Properties Ltd., on Saturday, announced that it has been declared the highest bidder for two adjacent land parcels in Noida for a total bid value of Rs 377 crore, according to the e-tendering portal of SBI, which facilitated an e-auction on behalf of New Okhla Industrial Development Authority (NOIDA).

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Godrej will reportedly develop residential group housing on the land parcels located in Sector 146, Noida. Spread over 12.4 acres, the land parcels are said to offer approximately 3.2 million square feet of development potential comprising primarily premium residential apartments of varied configurations.
Talking about the feat, Mohit Malhotra, MD & CEO, Godrej Properties, said, “We have witnessed strong demand for our existing projects in Noida and these projects will further strengthen our development portfolio in NCR (National Capital Region). This fits well with our strategy of deepening our presence in key micro markets across India's leading cities."
On Wednesday, Godrej Properties reported a 54 percent increase in its consolidated net profit to Rs 54.96 crore for the quarter ended September on higher income.
Its net profit stood at Rs 35.73 crore in the year-ago period.
The total income also rose to Rs 369.20 crore in the second quarter of this fiscal from Rs 334.22 crore a year ago, according to a regulatory filing.
Godrej Properties, which is part of the business conglomerate Godrej Group, is one of the leading real estate developers in the country.
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