Godrej Properties acquires 49% equity shares of Godrej Skyline Developers for Rs 37.64 crore, ET RealEstate

September 29, 2023

NEW DELHI: Godrej Properties (GPL) has acquired 49% equity shares of Godrej Skyline Developers (GSDPL) from the existing shareholder for Rs 37.64 crore.

Pursuant to the said acquisition, the company together with its wholly-owned subsidiary viz Godrej Projects Development (GPDL), holds 93% of the equity share capital of GSDPL.

6,47,500 equity shares of Rs 10 each, representing 49% paid-up equity share capital of GSDPL were acquired from existing shareholder. 3,70,00,000 preference shares of Rs 10 each, representing 74% paid-up preference share capital of GSDPL are acquired from existing shareholder.

Turnover of GSDPL was Rs 230.72 crore in FY23, the company informed in the regulatory filing.

In a separate regulatory filing, GPL said that it has acquired about 109 acres land parcel near Samrudhhi Mahamarg, Nagpur.

The development on this land will comprise primarily plotted residential units and will offer an estimated saleable area of 2.2 million sq ft.

  • Published On Sep 29, 2023 at 08:26 AM IST

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