Godrej Group entities Godrej & Boyce and Godrej Properties have decided to continue their Memorandums of Understanding (MoU) for the development of land in Mumbai’s eastern suburb Vikhroli. The proposed development will take place as and when Godrej & Boyce desires to develop the land. The Godrej Group owns over 3,400 acres in Vikhroli, and around 1,000 acres can be developed. The valuation of the developable land itself can be around Rs 1 lakh crore ($13.5 billion).
Realty firm Godrej Properties has acquired multiple land parcels with a revenue potential of around Rs 20,000 crore as the company expands its business amidst strong housing demand. The acquisitions have helped the company surpass its annual guidance for new business development, reaching Rs 15,000 crore. Godrej Properties is optimistic about the growth potential of the housing segment and plans to acquire additional land parcels this month. The company has a major presence in various regions across India.
