21 Aug , 2025 By : Debdeep Gupta
Shares of Godrej Properties gained as much as 2.2 percent to Rs 2,082 in morning trade on Thursday, August 21, after it announced it has secured the top spot in an e-auction conducted by the Telangana Housing Board (TGHB), emerging as the highest bidder for a 7.8-acre residential land parcel in Hyderabad’s Kukatpally area.
The real estate developer placed a combined bid of Rs 547.78 crore for the plot, which is estimated to generate a revenue potential of nearly Rs 3,800 crore. The allotment letter will be issued once TGHB completes the necessary formalities, the company said in a stock exchange filing on August 21.
Located close to HITEC City, the project will feature premium residential apartments across multiple configurations.
"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," said Gaurav Pandey, MD and CEO of Godrej Properties.
The announcement comes a day after the company disclosed the purchase of a 7 percent stake in Godrej Skyline Developers (GSDL) for Rs 9.25 lakh. Under the agreement, Godrej Properties will acquire 92,500 equity shares of Rs 10 each from existing shareholders, with the deal slated for completion on August 21.
For the June quarter, Godrej Properties reported a 15.4 percent year-on-year rise in net profit to Rs 600 crore, though revenue slipped 41 percent to Rs 435 crore. The company also posted an EBITDA loss of Rs 243 crore. Earlier this month, the developer outlined an ambitious growth plan for FY26, targeting sales of Rs 32,500 crore and collections of around Rs 21,000 crore.
The company’s net debt rose 42 percent to Rs 4,637 crore as it ramps up expansion to tap into robust housing demand. In the June quarter, Godrej Properties added five new land parcels to its portfolio, with an estimated development potential of Rs 11,400 crore.
At about 9:30 am, shares of the company were trading at Rs 2,080, higher by 1.8 percent from the last close on the NSE. Godrej Properties shares are down 27 percent since the beginning of the year.
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