Kolkata, March 25 (IANS): Real estate developer Godrej Properties Limited (GPL) on Wednesday said it is developing a three million square foot residential project on the outskirts of Kolkata, taking its project count in the city to three.

"We are very happy to add a large new project in Kolkata to our portfolio. This fits well with our strategy of adding quality residential projects across India's leading real estate markets," the company's managing director and CEO Pirojsha Godrej said in a statement.

According to the company, the project in Joka offers good connectivity to all key areas in Kolkata, including Alipore, Park Street, Salt Lake and Tollygunge.

"The project will also benefit from the rapidly developing social infrastructure in the area and the proposed infrastructure developments like the Joka metro station that will provide major impetus to the development of the area. This project will be developed under a profit- sharing model," the company said.

The company has already undertaken two high-budgeted projects in B.T. Road and Alipore in the city.

It is currently developing projects across 12 cities in India.