by propassetz 
In a strategic move to strengthen its foothold in tier II and tier III cities, Godrej Properties has acquired a 24-acre land parcel in Indore for approximately ₹200 crore. This acquisition aligns with the company’s aggressive growth strategy aimed at capitalizing on the surging demand for residential properties across emerging urban markets.
Premium Plotted Development Coming to Indore
The newly acquired land will be developed into a premium residential plotted development, offering an estimated saleable area of 6.20 lakh square feet. With a revenue potential of ₹500 crore, this project is poised to become a significant contributor to Godrej Properties’ already impressive portfolio.
This is Godrej’s second major land acquisition in Indore, following its 46-acre purchase on the Indore-Ujjain Road in July 2024. The company continues to adopt a dual approach of outright land purchases and joint development agreements with landowners to expand its housing footprint across India.
Focus on Tier II-III Cities for Plotted Projects
While Godrej Properties remains heavily focused on metropolitan regions like Mumbai, Delhi-NCR, Pune, and Bengaluru for group housing projects, it has turned its attention to tier II and III cities for plotted residential developments, tapping into the growing aspirations of homebuyers in these areas.
Record Sales and Continued Expansion
Godrej Properties has been on a land acquisition spree, adding eight new land parcels in the first half of FY 2024-25 alone. These parcels represent a combined saleable area of approximately 11 million square feet, with an estimated booking value potential of ₹12,650 crore.
Thanks to this aggressive land banking strategy and a consistent pipeline of project launches, Godrej Properties emerged as the largest listed real estate company in India in FY 2023-24 based on annual sales bookings. The company reported a staggering 89% year-on-year growth, with over ₹13,800 crore in bookings in the April–September period of FY 2024-25. It aims to hit ₹27,500 crore in sales bookings for the full fiscal year.
Strategic Funding for Growth
To support its ambitious expansion plans, the company recently raised ₹6,000 crore through a Qualified Institutional Placement (QIP). Key investors included Singapore’s sovereign wealth fund GIC and SBI Pension Fund.
Speaking about the capital raise, Pirojsha Godrej, Executive Chairperson of Godrej Properties, said:
“This capital raise will allow Godrej Properties to significantly enhance its business development portfolio, while maintaining a tremendously strong balance sheet. We remain focused on building scale through continued market share gains and margin expansion.”
Godrej Properties’ latest acquisition in Indore highlights its forward-looking strategy to cater to the evolving needs of homebuyers in non-metro cities. With a sharp focus on scale, revenue growth, and market dominance, the company is setting new benchmarks in the Indian real estate sector.