Gaurav Pandey, MD & CEO designate, Godrej Properties, said, "We are pleased to announce the addition of this large and strategically important project in Gurugram. This project will allow us to significantly increase our market share in Gurugram over the next several years and fits within our strategy of deepening our presence across key real estate micro-markets. We will aim to build an outstanding residential community that creates long term value for its residents."

Godrej Properties is engaged primarily in the business of real estate construction, development and other related activities. In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved.

Its consolidated net profit rose 53.8% to Rs 54.96 crore on 27.7% jump in net sales to Rs 165.09 crore in Q2 FY23 over Q2 FY22.

Shares of Godrej Properties declined 2.22% to Rs 1227.90 on Thursday.