Mumbai: Godrej Properties, the flagship real estate brand of the Mumbai-based Godrej Group, has won the bid to acquire a 7.8 acre land parcel in Kukatpally, Hyderabad close to the HITEC city, Hyderabad’s premier commercial area.
Godrej paid a Rs.30 crore premium above the Rs.40 crore base price, valuing the transaction at Rs.547 crore, according to reports. The company pipped other contenders for the land, including Prestige Estates, Aurobindo Realty and Ashoka Builders. The e-auction was conducted by the Telengana Housing Board for the land parcel in Kukatpally Housing Board Colony.
Godrej Properties has already leapfrogged DLF to become India’s leading real estate developer. In the last few years, it has spent aggressively to buy land parcels in leading cities, even as the company has raked in a debt of Rs.3,269 crore in 2025. Despite this, the company continues to invest in land parcels across the country. This year, it has already invested Rs.11,400 crore in land parcels in Mumbai, Pune, Panipat and Bengaluru.
“From a debt perspective, we have laid out an absolute cap that we would like to look at for net debt of Rs 10,000 crore. So, we do have a fair amount of room and even that would only take us to about 0.5 or a little bit above that range.” Godrej Properties MD and CEO Gaurav Pandey said, allaying investors’ concerns about the higher debt to equity ratio from 0.19 to 0.26 in the last
Last year, the company sold properties worth Rs.29,444 crore, a 31% rise from Rs.22,527 crore in 2024. This year, the real estate company aims to sell properties worth more than Rs.32,500 crore, retaining its spot as the top real estate developer in the country.
Despite this, the company’s total income fell from Rs.1,699 crore in Q1 FY25 to Rs.1,620 crore in Q1 FY24.
