Godrej Properties has acquired 100% issued and paid-up share capital of Yerwada Developers (YDPL). Pursuant to the said acquisition, YDPL has become Wholly-Owned Subsidiary of the Company with effect from December 09, 2021.
Post-acquisition, the Company will subsequently hold 20% in YDPL, the balance to be held by a real estate focused investment fund of Godrej Group. Acquisition is done in accordance with the Share Purchase Agreement entered into with the shareholders of YDPL. The Company along with other investors intends to construct and develop a real estate commercial project on the land to be acquired by YDPL.
Godrej Properties is a realty firm of Godrej group and it is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Currently, their business focuses on residential, commercial and township developments.
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