Godrej Properties Limited has entered into definitive agreements to develop a township project on a 62 acre land parcel in North Bengaluru under a profit-sharing model, offering ~5.6 million square feet of saleable area with an estimated booking value to be INR 5,000 million. While an agreement for sale for land, including this 62 acre, was entered into by the Company in 2014, the development wasn't able to commence at the time. Over the past few months, the 62 acre development opportunity has crystallized and the Company now expects to launch the first phase of development on this land in the upcoming financial year.