Godrej Properties has been declared the highest bidder for two adjacent land parcels in Noida for a total bid value of Rs 377 crore, the company said in an exchange filing on November 12.

The Mumbai-based developer will develop residential group housing on the land parcels located in Noida's Sector 146. The land parcels are spread over 12.4 acres and will offer approximately 3.2 million square feet of development potential comprising primarily premium residential apartments of varied configurations, the company said.

Mohit Malhotra, MD & CEO, Godrej Properties, said, “We have witnessed strong demand for our existing projects in Noida and these projects will further strengthen our development portfolio in NCR (National Capital Region). This fits well with our strategy of deepening our presence in key micro markets across India's leading cities."

Last week, the real estate giant reported a net profit of Rs 54.96 crore in the quarter that ended September, up 53.86% from Rs 35.72 crore in September 2021. EBITDA stands at Rs. 136.71 crore in September 2022 down 8.08% from Rs. 148.73 crore in September 2021. Godrej EPS has increased to Rs. 1.98 in September 2022 from Rs. 1.28 in September 2021.

Source: Money Control