Godrej Properties Acquires Land Parcel in Raipur, Shares Rise 2%

Godrej Properties shares rose 1.91% to ₹2,333.15 on Thursday, following the acquisition of approximately 50 acres of land in Raipur for a premium plotted residential project with an estimated saleable area of 9.5 lakh sq ft. The land is strategically located near Old Dhamtari Road, an emerging real estate hotspot with excellent connectivity to Central Raipur, the railway station, and Swami Vivekananda Airport.

Godrej Properties Ltd. (GPL) saw its shares rise by 1.91% to ₹2,333.15 on Thursday, following the announcement of its acquisition of approximately 50 acres of land in Raipur, Chhattisgarh, for a premium plotted residential project. The project is expected to offer an estimated saleable area of around 9.5 lakh square feet.

The land parcel, located near Old Dhamtari Road, is strategically situated in one of Raipur's fastest-growing real estate corridors. The area offers seamless connectivity to key city nodes such as Central Raipur, Raipur Railway Station, and Swami Vivekananda Airport. Additionally, the location benefits from robust social infrastructure, including reputed educational institutions, healthcare facilities, and retail hubs [4].

This acquisition marks Godrej Properties' continued focus on scaling its presence in Tier II growth corridors through plotted developments. The company aims to leverage early-mover advantages in these emerging markets, which are increasingly preferred by both homebuyers and long-term investors for their flexibility, faster turnaround time, and appreciation potential [2].

Godrej Properties' shares have gained 5.3% so far in 2025, with a stock performance of 7.3% in the past three months and 1% over the last month. However, the stock has declined by 1.1% in the past week. From a technical perspective, the stock is trading above five of its eight key simple moving averages (5-day, 10-day, 50-day, 100-day, and 150-day SMAs), but remains below the 20-day, 30-day, and 200-day SMAs. The Relative Strength Index (RSI) stands at 48, indicating that the stock is neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) is at -17.9 and remains below both the center and signal lines, a strong bearish signal for near-term momentum [1].

The Raipur project is part of Godrej Properties' broader land acquisition spree in emerging regions. The company is expected to announce more plotted townships in markets like Nagpur, Bhubaneswar, and Jaipur in the coming quarters. Recently, Godrej Properties acquired a licensed land in Panipat for Rs 600 crore, which is spread over 40 acres and has a potential developable area of 3 million sq ft. In June, Godrej Properties acquired and will develop a 16-acre land parcel in Upper Kharadi, Pune. Development on the land will primarily comprise premium group housing and high-street retail. The project will have a developable potential of around 2.5 million square feet with an estimated revenue potential of Rs 3,100 crore [2].

References:
[1] https://m.economictimes.com/markets/stocks/news/godrej-properties-shares-in-focus-after-company-acquires-50-acres-of-land-in-chhattisgarh/articleshow/122611723.cms
[2] https://www.business-standard.com/finance/personal-finance/tier-ii-boost-godrej-buys-50-acres-in-raipur-for-premium-plotted-project-125071700183_1.html
[3] https://www.business-standard.com/amp/finance/personal-finance/tier-ii-boost-godrej-buys-50-acres-in-raipur-for-premium-plotted-project-125071700183_1.html
[4] https://www.business-standard.com/markets/capital-market-news/godrej-properties-acquires-50-acre-land-in-raipur-chhattisgarh-125071600879_1.html