GoldBricks gets nearly 20% of claimed amount as arbitration with Godrej Properties ends

Realty firm Godrej Properties Limited on Tuesday (September 9) disclosed that the final arbitration award in its dispute with GoldBricks Infrastructure Private Limited over the Anandam project in Nagpur has been passed, with most claims by GoldBricks being rejected.The arbitration proceedings, which revolved around claims totalling approximately ₹1,366 crore by GoldBricks, resulted in the award allowing only ₹240.8 crore along with simple interest at 12% per annum from the award date until realisation.

The remaining claims of GoldBricks, as well as Godrej Properties’ counterclaims, were not accepted by the arbitrator. The company stated that the award does not fully reflect its detailed arguments and assertions. It is currently reviewing the award and consulting legal experts to challenge it before the Bombay High Court.

Also Read: Godrej Properties targets 20% growth in FY26 bookingsLast month, Godrej Properties Ltd said it has emerged as the highest bidder for a 7.8-acre land parcel in Kukatpally, Hyderabad, with a total combined bid value of ₹547.78 crore. The project is estimated to have a revenue potential of ₹3,800 crore.The e-auction was conducted by the Telangana Housing Board (TGHB) for Residential Group Housing. TGHB will issue the allotment letter after following the due process, Godrej Properties said in an exchange filing. The land parcel is located in close proximity to HITEC City and will comprise premium residential apartments of varied configurations, the company said.

“Building on the strong response to our recent launch, Godrej Madison Avenue at Kokapet, our presence here allows us to bring national-scale expertise while designing future-ready developments that create long-term value for our residents,” Gaurav Pandey, MD and CEO of Godrej Properties, said.

Shares of Godrej Properties Ltd ended at ₹1,950.00, down by ₹13.15, or 0.67%, on the BSE.