Godrej Properties Rises 2% After Winning Rs 547-Cr Bid for Hyderabad Land Parcel

Shares of Godrej Properties gained up to 2.2 percent to Rs 2,082 in morning trade on August 21 after the developer emerged as the highest bidder in a Telangana Housing Board (TGHB) e-auction for a 7.8-acre residential land parcel in Hyderabad’s Kukatpally. The company placed a winning bid of Rs 547.78 crore, with the project estimated to have a revenue potential of nearly Rs 3,800 crore. The allotment letter will be issued post completion of TGHB’s formalities, the company said in its filing. Located near HITEC City, the upcoming project will feature premium residential apartments across multiple configurations. Commenting on the development, MD & CEO Gaurav Pandey said the Kukatpally project aligns with Godrej’s strategy of expanding in key micro-markets while delivering large-scale, future-ready housing. This announcement comes a day after the company disclosed acquiring a 7% stake in Godrej Skyline Developers for Rs 9.25 lakh. For Q1 FY26, Godrej Properties reported a 15.4% YoY rise in net profit to Rs 600 crore, though revenue slipped 41% to Rs 435 crore, and it posted an EBITDA loss of Rs 243 crore. The developer has set an ambitious FY26 target of Rs 32,500 crore in sales and Rs 21,000 crore in collections. At around 9:30 am, shares were trading at Rs 2,080, up 1.8 percent, though the stock remains down 27 percent year-to-date. #GodrejProperties #RealEstate #Hyderabad #Kukatpally #HITEC #TGHB #LandAcquisition #StockMarket #NSE #BSE #PropertyNews #MarketsToday