Godrej buys 1.5 acre land parcels worth Rs 166 cr for residential proj in Mumbai

Realty firm Godrej Properties Ltd has bought around 1.5 acre land parcels for Rs 166 crore in Mumbai to develop a residential project. In a regulator y filing, Godrej Properties Ltd (GPL) announced the addition of a new residential project in Sanpada, Navi Mumbai. Spread over around 1.5 acres, this project will offer about 4 lakh square feet of development potential comprising primarily of premium residential apartments with a small amount of high street retail. The Mumbai-based developer posted a 69 per cent decline in its consolidated net profit at Rs 14.35 crore for the quarter ended December. Total income of the company fell to Rs 311.12 crore in the third quarter of this fiscal year, from Rs 517.47 crore in the corresponding period a year ago