Business
Godrej Properties buys 18.6 acre land in Mumbai to develop premium housing project; aims Rs 7,000 cr sales revenue

Godrej Properties Ltd on Friday said it has bought 18.6 acre land at Kandivali in Mumbai to develop a premium housing project and expects sales revenue of about Rs 7,000 crore.
In a regulatory filing, the company informed that the project would have a developable potential of about 3.72 million square feet with an estimated revenue potential of around Rs 7,000 crore.
The project will comprise primarily premium residential apartments with supporting retail spaces.
This will be one of the company’s largest residential developments, and it significantly strengthens the firm’s presence in the western suburbs of Mumbai.
Godrej Properties highlighted that this is the 8th project addition so far this financial year and “takes the cumulative expected booking value from projects added in FY23 to approximately Rs 16,500 crore.”
Godrej Properties, one of the leading real estate developers in the country, had given a full year guidance of adding projects with a booking value potential of Rs 15,000 crore.
To expand its business and create future development pipeline, Godrej Properties acquires land parcels outrightly and also enters into joint development agreements (JDAs) with landowners.
Mohit Malhotra, MD & CEO, Godrej Properties, said the company has added a large and strategically important project in Mumbai.
“This project will allow us to significantly increase our market share in Mumbai over the next several years and fits within our strategy of deepening our presence across key real estate micro markets,” he said.
Malhotra said the company would aim to build an outstanding residential community that creates long-term value for its residents.
The land is strategically placed in a prime locality with excellent access to the Western Express Highway, Metro & Suburban Railway Stations, the company said.
Godrej Properties, a part of business conglomerate Godrej Group, focuses on four key markets — Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru and Pune, although it has a presence in Chennai, Kolkata, Kochi, Ahmedabad, Chandigarh and Nagpur as well.
Godrej Properties has set a target of Rs 10,000 crore sales bookings for 2022-23 as against Rs 7,861 crore registered during the last fiscal year.
It has already clocked a 60 per cent growth in sales bookings during the first half of this fiscal year at Rs 4,929 crore as against Rs 3,072 crore in the year-ago period.
In an interview with PTI last month, Godrej Properties Executive Chairman Pirojsha Godrej had noted that the housing demand continued to be strong despite hike in interest rates on home loans.
He expected a robust sales bookings in the second half of this fiscal.
On financial front, Godrej Properties has reported a 54 per cent increase in consolidated net profit at Rs 54.96 crore in the quarter ended September 2022 on higher income.
Its net profit stood at Rs 35.73 crore in the year-ago period.
Total income also rose to Rs 369.20 crore in the second quarter from Rs 334.22 crore a year ago.
National
Big relief for Kunal Kamra as Bombay HC grants protection from arrest

Mumbai, April 25: In a major relief for stand-up comedian Kunal Kamra, the Bombay High Court on Friday granted him protection from arrest in connection with an FIR lodged over his satirical video and his controversial “gaddar” (traitor) remark aimed at Maharashtra Deputy Chief Minister Eknath Shinde.
The court directed the Mumbai Police not to take any coercive action against Kamra, who is currently residing in Chennai.
The FIR had been filed following the circulation of a video in which Kamra allegedly mocked Shinde and referred to him as a “gaddar,” sparking outrage among the Shiv Sena (Shinde faction) supporters.
While restraining the police from arresting the comedian, the court, however, allowed investigators to proceed with their inquiry.
It permitted the Mumbai Police to travel to Chennai to question Kamra, with the assistance of the local police.
The court said if the police file a charge sheet, the trial court should not proceed till the High Court decides the quashing petition filed by Kamra.
Kamra had filed a plea before the High Court seeking to quash the FIR filed against him.
Earlier on April 16, the High Court had granted him interim bail, which has now been made regular.
The FIR was filed at Khar police station following a complaint by Shiv Sena legislator Muraji Patel after Kamra, during a performance of his stand-up show Naya Bharat, allegedly referred to Shinde as a ‘gaddar’.
Kamra was initially granted interim anticipatory bail by the Madras High Court before he moved the Bombay High Court to seek quashing of the FIR and grant of regular bail.
The remark was purported as a reference to Shinde’s political defection from the Uddhav Thackeray-led Shiv Sena to join hands with the BJP, which led to a dramatic split in the party and the rise of a new ruling coalition MahaYuti.
Business
Demand for homes priced Rs 1 crore and above boosts market in India: Report

Mumbai, April 24: The demand for homes prices Rs 1 crore and above bolstered the Indian property market in the first quarter this year, preventing overall sales of 65,250 units from hard landing, a report said on Thursday.
Residential sales in Q1 2025 (January-March) experienced only a modest decline and added up to 65,246 units. This limited drop was primarily due to robust demand in the Rs 3-5 crore and Rs 1.5-3.0 crore segments, which helped counterbalance the slowdown in relatively affordable housing, according to a JLL report.
The steady growth in higher ticket size homes indicates increasing affluence among homebuyers, changing lifestyle preferences and buyers prioritising larger and premium properties.
According to the report, housing sales in India’s top seven cities continued to be dominated by Bengaluru, Mumbai, and Pune, which collectively accounted for 66 per cent of Q1 sales.
High concentration of MNCs and startups creating significant employment opportunities and ongoing infrastructure improvements make these cities increasingly attractive places to live and work.
It is interesting to note that over the last few quarters a significant share of quarterly sales volume has been contributed by projects launched during the same quarter.
Q1 2025 was no exception, with around one-fourth of its sales being contributed by quarterly new launches. Launches by reputed developers with assurance of timely delivery and steady price appreciation, are driving the trend, the report informed.
“The residential real estate market is showing signs of a shift in buyer preferences with lowering of demand for less than Rs 1 crore housing and a growing affinity for mid to high-end properties. This as well suggests a potential upward movement in the overall market dynamics,” said Dr Samantak Das, Chief Economist and Head of Research and REIS, India, JLL.
“This upswing in the higher-priced segment demand has shielded the overall housing sales from a sharper decline,” Das added.
Developers are focusing more on mid to high-end projects to align with current demand patterns. High-end housing sector experienced a steady upswing with 107 per cent year-on-year growth in launches of properties priced at Rs 1 crore and above, driven by strong sales in this segment.
Growth in launches despite economic uncertainties signals robust developer confidence in high-end housing demand, said the report, adding that 2025 is poised for robust growth in the residential sector demand.
Business
GreenLine flags off LNG truck fleet for Bekaert to drive sustainable logistics

Mumbai, April 24: GreenLine Mobility Solutions Ltd., an Essar venture and India’s only green logistics operator of LNG and electric-powered heavy commercial trucks, has partnered with Bekaert, a global leader in tire reinforcement technology, to decarbonise road logistics and support India’s vision of a gas-based economy.
The partnership was flagged off with the deployment of GreenLine’s LNG-powered trucks at Bekaert’s Ranjangaon Plant, marking the beginning of a pilot phase that aims to significantly reduce the carbon footprint of Bekaert’s logistics operations.
Each GreenLine LNG truck is expected to reduce up to 24 tonnes of CO₂ emissions annually, contributing to Bekaert’s ambition of becoming carbon net-zero by 2050 and achieving 65 per cent of sales from sustainable solutions.
Commenting on the partnership, Anand Mimani, CEO, GreenLine Mobility Solutions Ltd, said, “Our partnership with Bekaert demonstrates the growing commitment of forward-thinking corporates to drive sustainability at scale. At GreenLine, we are proud to offer not just green trucks, but an integrated ecosystem — from LNG refuelling to real-time telematics — that empowers our partners to make meaningful progress on their net-zero goals.”
Dinesh Mukhedkar, Procurement Operations Lead — South Asia and Procurement Global Shared Service Centre Lead, Bekaert, added, “As part of our purpose ‘Establishing the new possible,’ and our ambition to lead in safe, smart, and sustainable solutions, decarbonising logistics is an essential step. This directly supports our commitment to ESG principles and long-term sustainability goals.”
GreenLine’s expanding fleet of LNG-powered trucks has already clocked more than 40 million km, avoiding over 10,000 tonnes of CO₂ emissions. The company’s ongoing expansion includes plans to deploy over 10,000 LNG and EV trucks, supported by a nationwide network of 100 LNG refuelling stations, EV charging hubs, and battery swapping facilities — targeting a reduction of 1 million tonnes of carbon emissions annually.
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