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With a potential income of Rs 3000 cr, Godrej Properties was the highest bidder for a land lot in Sector 44 of Noida


<p>Godrej Properties Ltd. said on Tuesday that it has won the e-auction held by the Noida Authority, placing it as the highest bidder and obtaining the allocation letter to develop a desirable land piece in Noida.</p>
<p><img decoding=”async” class=”alignnone wp-image-476370″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-with-a-potential-income-of-rs-3000-cr-godrej-properties-was-the-highest-bidder-for-750×422.jpg” alt=”theindiaprint.com with a potential income of rs 3000 cr godrej properties was the highest bidder for” width=”995″ height=”561″ title=”With a potential income of Rs 3000 cr, Godrej Properties was the highest bidder for a land lot in Sector 44 of Noida 3″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-with-a-potential-income-of-rs-3000-cr-godrej-properties-was-the-highest-bidder-for-750×422.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-with-a-potential-income-of-rs-3000-cr-godrej-properties-was-the-highest-bidder-for-768×432.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-with-a-potential-income-of-rs-3000-cr-godrej-properties-was-the-highest-bidder-for-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-with-a-potential-income-of-rs-3000-cr-godrej-properties-was-the-highest-bidder-for.jpg 1024w” sizes=”(max-width: 995px) 100vw, 995px” /></p>
<p>The property is ideally situated in Sector 44 in Noida, spanning around 6.46 acres. With luxury residential flats of various configurations, the land parcel offers around 1.4 million square feet of development potential and an estimated income potential of over Rs 3,000 crore. This will be Godrej Properties’ sixth project in Noida. Noida provides a first-rate lifestyle and excellent connectivity due to its well-planned infrastructure, broad highways, and close proximity to Delhi.</p>
<p>“We have seen strong demand for our existing projects in Noida, and this project will further strengthen our development portfolio in NCR (National Capital Region),” said Gaurav Pandey, MD & CEO of Godrej Properties. This is in line with our plan to strengthen our position in important micromarkets located across India’s most populous cities. Our goal is to construct a first-rate residential community that adds value to its occupants throughout time.</p>
<p>Godrej Properties said earlier in February that its consolidated net profit for the December quarter increased by 11% to Rs 62.72 crore. Better housing demand during the time also contributed to a 76% annual growth in sales bookings, which came to Rs 5,720 crore.</p>
<p>The net profit for the real estate company was Rs 56.40 crore at the same time last year. In the third quarter of current fiscal year, total income increased to Rs 548.31 crore from Rs 404.58 crore during the same time the previous year. Also, Godrej Properties said that during the October–December quarter, their sales bookings increased by 76% YoY to Rs 5,720 crore.</p>


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