Godrej Properties Ltd. has formed two LLPs with Godrej & Boyce (G&B) to develop residential projects in Hyderabad and Thane.
Godrej Buildcorp LLP (GB LLP) will develop the 9.16 acres land parcel at Moosapet, Hyderabad. The approximate developable area will be 2 million square feet. This is a profit sharing arrangement with GPL getting 35% of the profits from the project.
Godrej Property Developers LLP (GPD LLP) will develop the 3 acre land parcel at Thane. The approximate saleable area will be 0.26 million square feet. This is also a profit sharing arrangement with GPL getting 32% of the profits from the project.
Mr. Pirojsha Godrej, Executive Director, Godrej Properties said, "We are very happy to have entered into two LLP's with Godrej & Boyce. These are the second and third developments after our project, The Trees, in Mumbai that we will do in partnership with one of our Group companies. We look forward to additional future opportunities to partner with our Group companies. Our aim will be to create outstanding projects that offer our customers an environmentally friendly, well designed living environment."
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