Godrej Properties to Develop Residential Project in Versova with Rs 1,350 Crore Revenue Potential

Godrej Properties Limited (GPL) has announced a new development agreement for a land parcel in Versova, Mumbai. The project is expected to yield a revenue potential of Rs 1,350 crore, with a total developable area of approximately 4.4 lakh square feet. This will primarily consist of residential units in various configurations, marking GPL’s first foray into the Versova market.

The new project aligns with Godrej Properties’ ongoing strategy to expand in Mumbai’s high-demand micro-markets. The land parcel is located in Versova, a locality that has witnessed consistent demand due to its road and metro connectivity, presence of social infrastructure, and proximity to commercial zones.

Versova lies in the western suburbs of Mumbai and is connected to the rest of the city via the Versova Metro Station, Link Road, and the Western Express Highway. Planned infrastructure additions such as the upcoming Bandra-Versova Sealink (BVSL) are expected to improve access to other key locations, including Bandra and South Mumbai.

Godrej Properties’ Managing Director and CEO, Gaurav Pandey, stated that this is the company’s first land acquisition in Versova. He added that the move reflects the company’s view of the location’s development potential. The project is intended to expand the company’s portfolio within Mumbai and contribute to its long-term growth plan, which emphasizes high-demand markets and planned developments.

The Versova project follows a series of successful launches by Godrej Properties across the country. Just last week, the company disclosed sales of over Rs 2,000 crore through the launch of its luxury housing project, Godrej Riverine, in Noida. This project, located in Sector 44, sold more than 275 homes during its launch in March 2025. Spread across 6.46 acres, the Noida project consists of residential units designed for urban homebuyers looking for access to Delhi and established civic infrastructure.

The choice of Sector 44 in Noida is notable, as it is one of the established micro-markets in the NCR region. Its road connectivity and urban infrastructure are seen as key drivers for residential demand. The performance of the Noida project signals strong interest in premium housing formats, and indicates that buyer confidence in Godrej Properties remains high across different markets.

Godrej Properties has shown a steady trajectory of growth. According to the company, it became India’s largest developer in FY 2024 by the value of residential sales achieved. Its projects span several cities including Mumbai, Bengaluru, Pune, Delhi-NCR, and Chennai.

The Versova land deal further deepens the company’s presence in Mumbai, one of its core focus markets. The company has been selectively acquiring land parcels across the Mumbai Metropolitan Region, targeting areas with potential for housing demand, connectivity, and upcoming infrastructure.

Versova has been on the radar of developers due to its strategic location and the expected impact of future transport projects. With the Bandra-Versova Sealink under construction, the area is likely to see a boost in accessibility and, by extension, property values. Moreover, the presence of educational institutions, healthcare facilities, and retail centers adds to the location’s residential appeal.

Godrej Properties’ approach in Versova seems to follow a calculated model—investing in land with development potential in areas with rising infrastructure. This method, coupled with the company’s execution track record, has allowed it to gain ground in competitive urban markets.

With multiple projects lined up and a steady pipeline of new launches, the company’s growth strategy appears focused on scale, location, and efficient land use. As infrastructure development continues in Mumbai and other urban centers, companies like Godrej Properties are likely to keep building on market demand through selective project planning.