Godrej Properties has estimated a financial impact of around ₹70 crore from the settlement of disputes with Orris Infrastructure over the Godrej Air project in Gurugram, the real estate company said in a filing to the stock exchanges on Thursday. The company said the settlement agreement also benefits the project’s homebuyers, while actions required under the agreement are being implemented.
The company said it would update its public disclosure after the actions under the settlement agreement are completed. It added that making a fuller disclosure before the required steps are concluded would be premature and speculative.
The dispute followed allegations involving statutory records of the limited liability partnership associated with the project. Godrej Properties had alleged that records filed with the registrar of companies were altered without authorisation and that false documents were used for the filings.
The matter also led to the arrest of Orris Infrastructure Managing Director Amit Gupta by Mumbai Police last month. Gupta was arrested in connection with allegations of forgery, cheating and criminal breach of trust relating to the Godrej Air project. Earlier media reports said the case arose from FIR No. 0183/2026, registered at Vikhroli police station on March 17 on a complaint by Nishikant Bapusaheb Patil, an adviser in Godrej Properties’ legal and secretarial department.
Godrej Properties said the two firms reached an amicable and conclusive settlement after discussions lasting more than a month. The Settlement Agreement was dated August 25, 2026. The Bombay High Court subsequently directed Gupta’s immediate and unconditional release on August 25 after the settlement was reached.
The company said its approach to disputes varies according to the nature and circumstances of each matter. In this case, it said the parties were undertaking the steps necessary to implement the agreed actions and that the process was currently under way.
The next formal update is linked to proceedings before the Bombay High Court. Godrej Properties said the appropriate disclosure would be made, if required, after the relevant actions are fulfilled and the compliance status is placed before the court at its next hearing, scheduled for September 24, 2026.
Shares of Godrej Properties ended Thursday’s trading session at ₹1,869 apiece on the Bombay Stock Exchange, up 0.48 per cent on an intraday basis.
