Realty firm Godrej Properties has acquired 75 acre land in Nagpur to develop a housing project with an estimated revenue of Rs 755 crore.
The company will mainly sell housing plots in this upcoming project.
In a regulatory filing on Friday, the company informed that it has surpassed Rs 20,000 crore annual target of new business development for this fiscal year after the latest purchase of 75 acres in Nagpur, Maharashtra.
In the real estate sector, the new business development means acquisition of land parcels, through outright purchases or tie-ups with land owners, to build projects in future.
Listed real estate developers generally disclose the estimated saleable area and revenue potential of land parcels they acquire.
Godrej Properties is one of the leading real estate developers in the country.
The company sold properties, primarily housing, worth Rs 29,444 crore in 2024-25.
Its pre-sales or sales bookings grew 13 per cent to Rs 15,587 crore in the first six months of this fiscal year from Rs 13,835 crore in the year-ago period.
Godrej Properties is confident of achieving its sales booking target of Rs 32,500 crore for the current fiscal year.